Malaysia legislation
Section 4
Section 4
(a)
to the Corporation; or
(b)
to any person entitled to require the issue of the securities following their initial allotment to the Corporation.
(2)
The Minister of Finance shall not give a direction under subsection (1) at a time when the successor company has ceased to be wholly owned by the Government of Malaysia.
(3)
Securities required to be issued in pursuance of this section shall be issued or allotted at such time and on such terms, as to allotment, as the Minister of Finance may direct.
(4)
Shares issued in pursuance of this section ―
(a)
shall be of such nominal value as the Minister of Finance may direct; and
(b)
shall be issued as fully paid and treated for the purposes of the Companies Act 1965 [Act 125] as if they had been paid up by virtue of the payment to the successor company of their nominal value.
8 Laws of Malaysia ACT 448
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*NOTE— The Electricity Act 1949 [Act 116] has since been repealed by the Electricity Supply
Act 1990 [Act 447]—see subsection 56(1) of Act 447.
(5)
The Minister of Finance may dispose of any securities issued or of any rights to securities initially allotted to the Corporation in pursuance of this section.
(6)
Any dividends or other sums received by the Corporation in right of, or on the disposal of, any securities or rights acquired by virtue of this section shall be paid into the Consolidated Fund.
Shares held under subsection 17(1) of the *Electricity Act 1949