Who may open a CDS account?
Posted by Sathisan Balan on 14 October 2011 05:25 PM

Who may open a CDS account?

 

The CDS account may be opened by:

  1. An individual who has reached the age of eighteen (18) years as of the application date.
  2. A corporation within the context of Section 4 of the Companies Act 1965.
  3. 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.
  4. A society under any written law relating to co-operative societies.
  5. A trustee or trust corporation duly constituted under any written law.
  6. Any society registered under the Societies Act 1966.
  7. 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.

 

 


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