Section 4

Every property vested by virtue of subsection (1) in the

Bank shall be so vested in the Bank for the like title, estate or interest and on the like tenure as it was vested or held immediately before the vesting date.

Every chose in action vested by virtue of subsection (1)

in the Bank may, after the vesting date, be sued on, recovered or enforced by the Bank in its own name, and it shall not be necessary for the Bank or Bank Pertanian Malaysia to give notice to the person bound by the chose in action of the vesting effected under subsection (1).

Every right and liability vested by virtue of subsection (1)

in the Bank may, on and after the vesting date, be sued on, recovered or enforced by or against the Bank in its own name, and it shall not be necessary for the Bank or Bank Pertanian

Malaysia to give notice to the person whose right or liability is affected by the vesting effected under subsection (1).

Any pending legal proceedings by or against the Bank

Pertanian Malaysia which relate to any property, right or liability transferred to and vested in the Bank by virtue of subsection (1)

may, on and after the vesting date, be continued by or against the Bank.

In the case of rights and liabilities arising under any loan which vest in the Bank on the vesting date, the Bank may enter into such arrangements or agreements over such rights and liabilities with the Government or any third party.

Where by virtue of subsection (1), any property is transferred to and vested in the Bank, the provisions in Part Thirty of the

National Land Code [Act 56 of 1965] shall, for the purpose of effecting the registration of such vesting, apply to the Bank as if it were a public authority.

On and after the vesting date, any agreement relating to any property, rights and liabilities transferred to and vested in the

Bank under subsection (1) to which the Bank Pertanian Malaysia was a party immediately before the vesting date, whether in writing or not, and whether or not of such a nature that rights and liabilities thereunder could be assigned by the Bank Pertanian

Malaysia, shall have effect as if the Bank had been a party to the agreement.

Act 684

Initial Government holding in the Bank