Section 2

“appointed day” means the day on which this Act comes into force;

8 Laws of Malaysia ACT 533

“Board” means the Inland Revenue Board of Malaysia established under section 3;

“body” means a body corporate;

“Chairman” means the Chairman of the Board and includes any temporary Chairman of the Board;

“chief executive officer” means the chief executive officer appointed under subsection 6A(1) and includes any person appointed under subsection 6A(3);

“Director General” means the Director General of Inland Revenue referred to in section 134 of the Income Tax Act 1967 [Act 53];

“Fund” means the Fund established under section 23;

“liabilities” means liabilities, debts, charges, duties and obligations of every description whether present or future, actual or contingent, and whether payable or to be observed or performed in Malaysia or elsewhere;

“member” means a member of the Board referred to in section 6;

“Minister” means the Minister for the time being charged with the responsibility for finance;

“property” includes all property, movable and immovable, and all estates, interests, easements or rights, whether equitable or legal in, to or out of property, choses in action, money and goodwill; and “vested”, in relation to property, includes rights to property which are future or contingent and rights in reversion and remainder;

“rights” means all rights, powers, privileges and immunities, whether actual, contingent or prospective;

“vesting date” means the date on which property, rights and liabilities specified by the Minister in the order under subsection 4(1)

to which the Government of Malaysia was entitled or subject to, are transferred to and vested in the Board.

Inland Revenue Board of Malaysia 9