Malaysia legislation
Section 6
Section 6
(a)
securities of the Bank or of any subsidiary of the Bank;
or
(b)
rights to subscribe for any such securities.
*NOTE—The Companies Act 1965 [Act 125] has since been repealed by the Companies Act 2016
[Act 777] w.e.f. 31 January 2017 –see subsection 620(1) of Act 777.
Bank Pertanian Malaysia Berhad 9
(2)
The Minister may dispose of any securities or rights acquired by the Corporation under this section.
(3)
Any expenses incurred by the Corporation in consequence of the provisions of this section shall be treated as investments and be authorized under subparagraph 8(3)(a)(iv) of the Financial
Procedure Act 1957 [Act 61].
(4)
Any dividends or other sums received by the Corporation in right of, on the disposal of or otherwise in connection with, any securities or rights acquired under this section shall be paid into the Consolidated Fund.
(5)
Stamp duty shall not be chargeable in respect of any increase in the capital of the Bank which—
(a)
is effected by the issue of shares allotted at a time when the Bank is wholly owned by the Government; and
(b)
is certified by the Treasury as having been effected by the issue of shares subscribed for by the Corporation under paragraph (1)(a).
Appointment of Government representative on the Board