Malaysia legislation
Section 7
Section 7
Subject to and for the purposes of this Act, the powers of the
(a)
to carry on or engage in any commercial activity or profit-making enterprise, subject to the approval of the
Federal Government;
(b)
to initiate and carry out studies of possible development and redevelopment areas, propose plans outlining development or redevelopment activities including identifying suitable locations and other key enablers for such purposes and carry out surveys to determine if the undertaking and carrying out of development or redevelopment projects are feasible;
(c)
to promote, recommend, facilitate, assist in, co-ordinate, organize, develop and undertake strategies and initiatives to enhance the international competitiveness of goods and services in the Northern Corridor Economic Region, including strategies and initiatives relating to—
(i)
the development of strong regional and world-class brands;
(ii)
the dissemination of modern or international best practices or standards for adoption by producers or service providers;
(iii)
the achievement of international accreditation or certification by businesses;
(d)
to develop, promote, recommend, facilitate, organize, co-ordinate and undertake social development initiatives aimed at alleviating poverty and reducing income disparity in the Northern Corridor Economic Region;
(e)
to require—
(i)
all relevant Government Entities to give such assistance and submit such information in their possession as may be required by the Authority in order for the Authority to carry out its functions under this Act;
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(ii)
all Government Entities, companies and corporations, and other bodies and persons, whether local or foreign, responsible for or engaged in carrying out or intending to carry out development in the Northern Corridor Economic Region to submit reports, containing such particulars and information as may be specified by the Authority, regarding their activities or proposed activities;
(f)
to co-ordinate and assist the relevant Government Entities in reviewing and evaluating development, including the development of the agricultural, manufacturing and services sectors, infrastructure and public amenities in the Northern Corridor Economic Region;
(g)
to make recommendations to the State Authorities and local authorities within the Northern Corridor
Economic Region in relation to local government functions and services including local planning control and the regulation, approval and control of all buildings and building operations, the repair and removal of ruinous and dangerous buildings, and the prohibition, closure and demolition of a building of a particular class, design or appearance in the Northern Corridor
Economic Region;
(h)
to co-operate with or act as authorized agent of, or otherwise act in association with or on behalf of, any
Government Entity, any company or corporation, or any body or person, whether local or foreign;
(i)
to directly or indirectly approach any investor or potential investor, whether local or foreign, in order to promote investment in the Northern Corridor Economic
Region;
(j)
to promote, facilitate, assist and co-ordinate the carrying on of the activities mentioned in paragraphs (a) to (d)
by any Government Entity or any person, whether local or foreign or jointly by them;
Act 687
(k)
to establish or expand, or promote the establishment or expansion of, companies or other bodies to carry on any of the activities mentioned in paragraphs (a) to (d) either under the control or partial control of the Authority or independently;
(l)
to enter into (or by an entity under its control or partial control referred to in paragraph (k)) partnership or into any arrangements for sharing profits, union of interest, co-operation, joint venture, reciprocal concession or otherwise, with any person, company or body or any business, activity or transaction capable of being conducted so as directly or indirectly to achieve the objectives of the Authority and to take or otherwise to acquire shares and securities of any such company and to sell, hold, re-issue with or without guarantee or otherwise deal with the same;
(m)
to underwrite or otherwise acquire and hold any securities and to dispose of the securities on such terms and conditions as the Authority may determine;
(n)
subject to and in accordance with any written law, to establish, manage and operate any investment fund, whether relating to property, stock, shares or otherwise, and to dissolve the investment fund on such terms and conditions as the Authority may determine;
(o)
to apply for and accept the alienation or transfer of land within the Northern Corridor Economic Region for development;
(p)
to dispose of capital assets and to use the proceeds from such disposal;
(q)
to appoint such agents as it may deem fit for the purpose of performing its functions;
(r)
to impose fees, costs or any other charges as it deems fit for giving effect to any of its functions or powers;
and
(s)
to do all things expedient or necessary for or incidental to the performance of its functions under this Act.
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Additional functions of the Authority