Malaysia legislation
Section 18
Section 18
(2)
The Chief Executive Officer shall be a person who—
(a)
has the academic qualification and experience which will enable him to satisfactorily discharge his responsibilities;
Public Sector Home Financing Board 21
(b)
has not held a position of responsibility in the management of a company which has been convicted of an offence under any written law during his tenure of office unless he proves that such offence was committed without his knowledge or consent and he was not in a position to prevent the offence;
(c)
has not held a position of responsibility in the management of any company which during his tenure of office—
(i)
has defaulted in the payment of any judgment sum against the company;
(ii)
has suspended payment to or has compounded with, the creditors of the company; or
(iii)
has had a receiver or manager appointed in respect of the property of the company;
(d)
is available for full time employment, and shall not carry on any other business or vocation, except as a non-executive director or shareholder of another company;
(e)
has not caused a conflict of interest situation with that of the Board, either by himself or through his relative;
and
(f)
has not acted in a manner which may cast doubt on his fitness to hold the position of Chief Executive Officer, or acted in blatant disregard for proper professional conduct.
(3)
The Chief Executive Officer shall have such powers and duties as may be conferred or imposed upon him by the Board.
(4)
The Chief Executive Officer shall be responsible for the overall administration and management of the functions and the day-to-day affairs of the Board.
(5)
The Chief Executive Officer shall have general control of the employees of the Board.
(6)
In discharging his duties, the Chief Executive Officer shall act under the general authority and direction of the Board.
Act 767
(7)
Subject to subsection (8), the Board may appoint temporarily any employee of the Board to act as the Chief Executive Officer for a period when—
(a)
the office of the Chief Executive Officer is vacant;
(b)
the Chief Executive Officer is absent from duty or from
Malaysia; or
(c)
the Chief Executive Officer is, for any other reason, unable to perform the duties of his office.
(8)
The Board shall obtain the approval of the Minister if the appointment under subsection (7) is for more than six months.
(9)
The Chief Executive Officer shall be an employee of the
Board.
(10)
The Chief Executive Officer shall be paid such remuneration as the Board may determine with the approval of the Minister.
(11)
Paragraphs 14(a), (b), (c), (d), (e), (f), (g) and (i) shall apply to the Chief Executive Officer.
Appointment of employees