Malaysia legislation
Section 91
Section 91
(2)
In carrying out any direction of the Minister under subsection (1), the Corporation shall have power to do all things expedient or reasonably necessary or incidental to the discharge of its functions, and in particular, but without prejudice to the generality of the foregoing, shall have power—
(a)
to receive financial assistance or grant from the
Federal Government or any other person or otherwise with the approval of the Minister of
Finance to borrow money from any financial institution or other person and in connection therewith to provide such security as it thinks appropriate;
(b)
with the approval of the Minister of Finance, to give financial assistance to any railway company nominated by the Minister, including a subsidiary of such company, for the carrying out of any project relating to the provision of railway facilities and services; and
(c)
with the approval of the Minister of Finance, to enter into any arrangement for sharing of profits, union of
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Laws of Malaysia ACT 463
interest, cooperation or joint venture with any railway company nominated by the Minister or any other person or body of persons or to establish or promote the establishment and expansion of companies under the
Companies Act 1965 [Act 125].
Dissolution of Malayan Railway Administration and vesting of its property in the Corporation