Who may open a CDS account?
The CDS account may be opened by:
- An individual who has reached the age of eighteen (18) years as of the application date.
- A corporation within the context of Section 4 of the Companies Act 1965.
- Any corporate body that is incorporated within Malaysia and is by notice, published in the Gazette, declared as a public authority or an instrument or agency of the Government of Malaysia or of any Malaysian State.
- A society under any written law relating to co-operative societies.
- A trustee or trust corporation duly constituted under any written law.
- Any society registered under the Societies Act 1966.
- Statutory bodies incorporated under an Act of Parliament.
In general, a CDS account can only be opened if the persons are opening it either as a beneficial owner or as an Authorised Nominee.