Malaysia legislation
Section 24
Section 24
(a)
arrangement or agreement—
(i)
for the sale or disposal of its shares or business; or
(ii)
affecting voting power, management or other matters, which will result in a change in the control or management of the bank; and
(b)
(i)
scheme for reconstruction of the bank; or
(ii)
scheme for amalgamation, merger, or otherwise between the bank and any other corporation, wherein the whole or any part of the undertaking or the property of the bank is to be transferred to another corporation.
(2)
The Minister on the recommendation of the Central Bank may approve or refuse to allow the proposed arrangement, agreement or scheme:
Provided that the approval of the Minister shall not be unreasonably withheld.