Section 6
Appointment of Government representatives on the board of the successor company
of Railways (Successor Company) Act 1991
(1)
The Minister of Finance may, from time to time, for so long as the Government of Malaysia holds not less than five per cent of the entire issued securities in the successor company, after consultation with the Minister, nominate such number of persons as may be appropriate to be directors on the board of the company.
(2)
The successor company shall cause every person nominated by the Minister of Finance under subsection (1) to be appointed to the board of the company.
(3)
Any person appointed to the board of the successor company under subsection (2) may, at any time, be removed by the Minister of
Finance, after consultation with the Minister, by giving written notice to such person and the company.
(4)
For the purpose of determining the number of persons to be appointed as directors of the successor company under subsection (1), the Minister of Finance shall have regard to the total number of securities held by the Government of Malaysia and the total number of directors appointed or proposed to be appointed by the company to its board, at the time of such nomination.
(5)
Nothing in this section shall be construed so as to affect any power, right or privilege which may be conferred on the Government of Malaysia by the constituent documents of the successor company.