Malaysia legislation
Section 6
Section 6
Minister, at any time, acquire—
(2)
The successor company shall cause every person nominated by the Minister of Finance under subsection (1) to be appointed to the board of the company.
(3)
Any person appointed to the board of the successor company under subsection (2) may, at any time, be removed by the Minister of
Finance, after consultation with the Minister, by giving written notice to such person and the company.
(4)
For the purpose of determining the number of persons to be appointed as directors of the successor company under subsection (1), the Minister of Finance shall have regard to the total number of securities held by the Government of Malaysia and the total number of directors appointed or proposed to be appointed by the company to its board, at the time of such nomination.
(5)
Nothing in this section shall be construed so as to affect any power, right or privilege which may be conferred on the Government of Malaysia by the constituent documents of the successor company.
Financial structure of the successor company