Section 8

the vesting effected by virtue of section 4 shall be taken to have been a vesting of all property, rights and liabilities which the Bank Pertanian Malaysia was entitled and subject to immediately before the end of the last complete accounting year of the Bank Pertanian Malaysia, ending before the vesting date and to have been effected to the

Bank on the vesting date; and

the value of any asset, right or the amount of any liability of the Bank Pertanian Malaysia, taken to have been vested in the Bank by virtue of section 4 shall be taken to be the value or, as the case may be, the amount assigned to the asset, right or liability in the statement of accounts prepared by the Bank Pertanian Malaysia, in respect of the last complete accounting year of the Bank Pertanian

Malaysia, ending before the vesting date.

For the purposes of any statutory accounts of the Bank, the amount to be included in respect of any item shall be determined as if anything done by the Bank Pertanian Malaysia, whether by way of acquiring, revaluing or disposing of any asset or incurring, revaluing or discharging any liability, or by carrying any amount to any provision of reserve, or otherwise, had been done by the

Bank.

References in this section to the statutory accounts of the

Bank are references to any accounts prepared by the Bank for the purposes of any provision of the *Companies Act 1965.

For the purposes of this section, “complete accounting year”

means an accounting year ending on 31 December or a period to be determined by the Minister.

*NOTE—The Companies Act 1965 [Act 125] has since been repealed by the Companies Act 2016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 11