Malaysia legislation
Section 114
Section 114
(a)
the Commission to assume control of the whole of the property, business and affairs of a licensee and to carry on the whole of the licensee’s business and affairs;
(b)
the Commission to assume control of such part of the property, business and affairs of a licensee as may be specified by the Minister and to carry on such part of the licensee’s business and affairs; or
(c)
the Commission to appoint any person to exercise any of actions directed in paragraph (a) or (b) on behalf of the
Commission; and
(d)
for the expenses of the Commission, or the remuneration of the person so appointed under paragraph (c), as the case may be, to be payable out of the assets of the licensee in priority to all other claims whether secured or unsecured.
(2)
The determination of what amounts to national interest shall be made by the Minister and such determination shall be final and binding upon all persons and shall not be challenged, appealed against, reviewed, quashed or questioned in any court.
(3)
The power of the Minister under this section shall only be exercised with the prior approval of the Federal Government.
Provisions in relation to appointment under section 113