Section 6B
Additional powers of the Board
of Malaysian Agricultural Research and Development Institute Act 1969
The Board may, with the approval of the Minister and the concurrence of the Minister of Finance—
(a)
carry on any activity which is commercial in nature and where it appears to be necessary, advantageous or convenient for or in connection with the discharge of the functions of the Institute; or
(b)
promote the incorporation of companies under Companies
Act 1965 [Act 125] for the purposes of carrying out or engaging in any activity which has been planned or undertaken by the Board in connection with the discharge of the functions of the Institute.
(2)
The Memorandum of Association of a company incorporated under paragraph (1)(b) shall be as approved by the Board prior to the incorporation of such company.
(3)
Notwithstanding subsection (1), the Board shall not without the approval of the Minister and the concurrence of the Minister of
Finance—
(a)
invest in the shares of any company; or
(b)
dispose of all or any part of its equity or assets invested in any of its subsidiary companies.
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