ANWAR Ibrahim's EPF withdrawal scheme has the potential to open a can of worms, that even Perikatan Nasional's will not want to open.
YES, according to Anwar Ibrahim, the Attorney General has deemed it legal for READ : Those aged 40 and above may apply for personal financing from banking institutions using their Account 2 balance as support for their loans from April 7.
THERE is a strong possibility that Anwar Ibrahim has over stepped his authority and his actions might be challenged in court, on the basis that it is Ultra Vires against a greater act.
God sent me to piss the world off!
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HAVE a look at Section 51 of the EPF ACT.
Seksyen 51
Caruman dan deposit tidak boleh diserah hak atau ditahan
- Walau apa pun apa-apa jua yang berlawanan yang terkandung dalam mana-mana undang-undang bertulis yang lain
[Pin. Akta A1504/2016]
- tiada jumlah wang yang dipotong daripada upah seseorang ahli Kumpulan Wang di bawah seksyen 48;
- tiada amaun yang kena dibayar oleh majikan sebagai carumannya; dan
- tiada amaun yang berada pada kredit seseorang ahli Kumpulan Wang,
[Pin. Akta A914/1995]
- Walau apa pun subseksyen (1), amaun yang ada pada kredit seseorang ahli Kumpulan Wang di bawah perenggan (1)(c) boleh dilucuthakkan jika amaun yang ada pada kredit ahli itu adalah tertakluk kepada suatu perintah pelucuthakan oleh mahkamah di bawah Akta Pencegahan Pengubahan Wang Haram, Pencegahan Pembiayaan Keganasan dan Hasil daripada Aktiviti Haram 2001 [Akta 613].
PERIKATAN Nasional are unlikely to challenge Anwar Ibrahim in court on this matter, because under their watch licensed money changers, were allowed a year ago to offer a much superior EPF packages then the one being offered by Anwar Ibrahim.
HENCE, only when a member of the public takes this matter to court, will we find out if Anwar Ibrahim is a brilliant legal and financial mind or a Finance Minister who is way past his sell DATE