Malaysia legislation
Section 20
Section 20
(2)
All moneys, properties, assets and rights whatsoever of all organizations and bodies of students existing in an Institution immediately before the commencement of this Act shall, on the date of commencement of this Act and without any conveyance, assignment or transfer whatever, vest in the following manner:
(a)
where the Institution is a corporation, or belongs to a corporation, whether a corporation sole or a corporation aggregate, they shall vest in the corporation;
(b)
where the Institution is neither a corporation nor belongs to a corporation, they shall vest in the person or persons to whom the Institution belongs, or to the trustee or trustees of the Institution, if any,
*NOTE—The Co-operative Societies Ordinance 1948 [F.M. Ord. 33 of 1948] has been repealed by
s. 95 of the Co-operative Societies Act 1993 [Act 502].
18 Laws of Malaysia ACT 174
and shall be used for the benefit of the students of the Institution in such manner as the Executive Head may, in his absolute discretion, direct.
(3)
Any person having in his possession or under his custody, control or charge any money, property, asset or right whatsoever referred to in subsection (2), or any document pertaining thereto, shall forthwith give delivery and possession of the same to the corporation, person, or trustee in whom the same are vested in accordance with subsection (2), and shall do all such acts or things as may be necessary to effect such delivery or possession.
(4)
The corporation, person, or trustee in whom the vesting is effected in accordance with subsection (2) shall not be responsible or liable to meet any dues, debts, obligations or liabilities whatsoever of any organization or body of students referred to in subsection (2):
Provided, however, that the Executive Head of the Institution may, in his absolute discretion, decide to use any money, property, asset or right whatsoever vested as aforesaid in accordance with subsection (2) to meet any due, debt, obligation or liability of any such organization or body of students if he deems it just and proper to do so.
(5)
In this section “person” includes the Government of Malaysia or a State Government.
(6)
The Minister may by order published in the Gazette make such provision as he may consider necessary or expedient for the purpose of giving effect to the provisions of this section or to remove any difficulties occasioned by them.