Malaysia legislation
Section 3
of MALAYSIAN INDUSTRIAL DEVELOPMENT AUTHORITY (INCORPORATION) ACT 1965
Section 3
“Government Entity” means—
(2)
The Authority shall have perpetual succession and a common seal.
(3)
Subject to and for the purposes of this Act, the Authority may, upon such term as it deems fit—
(a)
enter into contracts;
(b)
acquire, purchase, take, hold and enjoy movable and immovable property of every description; and
(c)
convey, assign, surrender, charge, mortgage, demise, reassign, transfer, or otherwise dispose of, or deal with, any movable or immovable property or any interest vested in the
Authority.
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Malaysian Investment Development
Authority (Incorporation)
Establishment of the Board 3a. (1) There shall be established a Board of the Authority consisting of the following members:
(a)
a Chairman who shall be appointed by the Minister;
(b)
the Secretary General of the Ministry responsible for finance or his representative;
(c)
the Secretary General of the Ministry responsible for international trade and industry or his representative;
(d)
not more than ten other members who shall be appointed by the Minister and of whom not more than seven shall represent the commercial, manufacturing, financial, industrial and service sectors; and
(e)
the Chief Executive Officer.
(2)
The Board shall be responsible for—
(a)
providing policy guidance and recommendations in relation to the performance of the Authority’s functions and exercise of the Authority’s powers;
(b)
overseeing the implementation of the policies and recommendation; and
(c)
giving such directions to the Chief Executive Officer as are consistent with the provisions of this Act.
(3)
The provisions of the Schedule shall apply to the Board.
(4)
There shall be paid to the members of the Board, other than the
Chief Executive Officer, such allowances as may be determined by the
Minister.
(5)
Subject to such terms as may be specified in the instrument of appointment, a member appointed under paragraph (1)(a), (d) or (e)
shall, unless he sooner resigns or vacates his office or his appointment is sooner revoked, hold office for a term not exceeding three years and is eligible for reappointment.
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Act 397
(6)
The Minister may at any time revoke the appointment of any member appointed under paragraph (1)(a), (d) or (e) without assigning any reason for the revocation.
(7)
A member appointed under paragraph (1)(a),(d) or (e) may at any time resign from his office by a written notice to the Minister.
(8)
The Minister may appoint any member to exercise the functions of the Chairman during any period the Chairman is for any reason unable to perform his functions or during any period of vacancy in the office of the Chairman and such member shall, during the period in which he is performing the functions of the Chairman under this subsection, be deemed to be the Chairman.
(9)
Until an appointment under subsection (8) is made or in default of such appointment or in the absence of the Chairman from any meeting of the Board, the Chief Executive Officer shall perform the functions of and be deemed to be the Chairman of the Board.
Vacation of office 3b. (1) The office of a member appointed under paragraph 3a(1)(a),
(d)
or (e) shall be vacated—
(a)
if he dies;
(b)
if there has been proved against him, or he has been convicted on, a charge in respect of—
(i)
an offence involving fraud, dishonesty or moral turpitude;
(ii)
an offence under any law relating to corruption; or
(iii)
any other offence punishable with imprisonment (in itself only or in addition to or in lieu of a fine) for more than two years;
(c)
if he becomes a bankrupt or has made an arrangement with his creditors;
(d)
if he is of unsound mind or is otherwise incapable of performing his duties or managing his affairs; or
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Malaysian Investment Development
Authority (Incorporation)
(e)
if he has been absent at three consecutive meetings of the
Board, without leave in writing of the Minister.
Filling of vacancies 3c. Where any person ceases to be a member by reason of section 3b the Minister may appoint another person to fill the vacancy for a term not exceeding three years, and that person shall be eligible for reappointment.
Appointment of Chief Executive Officer 3d. (1) The Minister shall appoint, a Chief Executive Officer upon such terms and conditions as the Minister may determine.
(2)
The Chief Executive Officer shall be responsible for the administration and management of the functions and affairs of the
Authority, and in particular, but without prejudice to the generality of the foregoing—
(a)
the preparation of programmes, schemes and projects, the progress of which must be reported to the Board from time to time;
(b)
the execution of programmes, schemes and projects of the
Authority;
(c)
the issuance of policy guidance or elucidation of recommendations of the Board to officers and servants of the Authority;
(d)
the management and administration of the financial affairs of the Authority;
(da) the management of the annual budget of the Authority and making a decision on the allocation for all activities including development and operational; and
(e)
the supervision and control over the implementation of the recommendations of the Board.
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(3)
The Chief Executive Officer shall perform such further duties as the Board may from time to time direct.
Appointment of officers, servants and other persons 3e. (1) The Authority may appoint such number of officers and servants of the Authority as it thinks desirable and necessary who shall be paid such remuneration and allowances and be subject to such conditions of service as may be prescribed by regulations.
(2)
The Authority may engage the services of and pay other persons to do any act required to be done in the performance of its functions or the exercise of its powers or for the better carrying into effect the purposes of this Act.