Malaysia legislation
Section 4
Section 4
(2)
The Board shall have perpetual succession and a common seal.
(3)
The Board may sue and be sued in its name.
(4)
Subject to and for the purposes of this Act, the Board may, upon such terms as it deems fit—
(a)
enter into contracts;
(b)
acquire, purchase, take, hold and enjoy movable and immovable property of every description;
(c)
from time to time borrow or raise money by bank overdraft or otherwise for the purposes specified in paragraph (b); and
(d)
convey, assign, surrender, yield up, charge, mortgage, demise, lease, reassign, transfer, or otherwise dispose of, or deal with, any movable or immovable property or any interest vested in the Board.
Laws of Malaysia ACT 768
10
Functions of the Board