Yayasan Bursa Malaysia (YBM) : Shares2share Administrator
Yayasan Bursa Malaysia (YBM) - Shares2share Administrator
The donations towards Shares2share will be managed and monitored by YBM. YBM has received approval under subsection 44(6) of the Income Tax Act 1967 so that donors who donate cash to YBM and who receive official receipts for their donations (Tax Receipts) are entitled to a deduction of their donations in the calculation of their aggregate incomes.
As the Shares2share administrator, YBM shall perform the following functions –
- Monitor donated securities that have been credited into the relevant CDS accounts
- Manage the sale of the donated securities
- Facilitate the selection of beneficiary Charitable Organisations
- Manage the distribution of funds to the approved Charitable Organisations and initiatives
- Publish information on usage of funds, as provided by the approved Charitable Organisations