Section 33
Power to establish companies, etc.
of Agensi Inovasi Malaysia Act 2010
The Agency may establish companies under the Companies
Act 1965 [Act 125] to carry out and have the charge, conduct and management of any activities, projects or initiatives which have been planned or undertaken by the Agency in the performance of its functions or the exercise of its powers.
(2)
The Agency may, in fulfilment of its functions and with the approval of the Prime Minister—
(a)
enter into any partnership, joint venture, undertaking or any other form of co-operation or arrangement for the sharing of profits or carry on its activities in association with, or otherwise, any person, public authority or government carrying on or engaging in any such activities; or
(b)
take or otherwise acquire shares and securities in any public authority, corporation or other body dealing with the commercialization of innovation and may sell, hold or reissue such shares or securities or otherwise dispose of or deal with them.
(3)
Subject to the approval of the Prime Minister and the Minister of Finance, the Agency shall divest its stakes in the companies established under subsection (1) within seven years of its establishment.
Agensi Inovasi Malaysia 29