Malaysia legislation
Section 6
Section 6
The principal Act is amended by inserting after section 74
the following section:
“Power of the Organization to establish or take over companies 74a. (1) The Organization may, with the approval of the
Minister and the Minister of Finance, establish or take over any company under the Companies Act 1965 [Act 125] to carry out, administer, conduct and manage any project, joint venture, privatization programme, scheme, enterprise or any other matter which has been planned or undertaken by the Organization for the purposes of the Scheme of Social
Security under this Act.
(2)
The Organization may give instructions to the company referred to in subsection (1) on matters relating to the administration, finance and operation of the company which are consistent with the provisions of this Act, and such company shall give effect to the instructions.”.
Amendment of section 75a