*PLANTERS' LOANS FUND (DISSOLUTION) ACT 1981

This Act may be cited as the Planters’ Loans Fund (Dissolution)

Act 1981 and shall come into force on a date to be appointed by the

Minister by notification in the Gazette.

―Bank‖ means the Bank Pertanian Malaysia established under the

Bank Pertanian Malaysia Act 1969 [Act 9];

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―Enactment‖ means the Planters’ Loans Fund Enactment

[F.M.S.Cap. 131];

―Fund‖ means the Planters’ Loans Fund established under the

Enactment;

―Minister‖ means the Minister charged with the responsibility for finance;

―property‖ includes all estates, interests, charges, mortgages, easements and rights, whether equitable or legal, in, to or out of property, and things in action.

The Enactment is repealed and the Fund is dissolved.

All powers, rights, privileges, duties, liabilities and obligations that immediately before the commencement of this Act were those of the Fund shall, on the commencement of this Act, devolve on the

Bank.

All movable and immovable property and other assets which immediately before the commencement of this Act were vested in the

Fund shall, on the commencement of this Act, and without any conveyance, assignment or transfer whatever, vest in the Bank for the like title, estate or interest and on the like tenure and for the like purposes as the same was vested or held immediately before the commencement of this Act.

Planter’s Loans Fund (Dissolution) 7

All moneys standing in, or due to be paid to the Fund shall, on the commencement of this Act, be transferred to, and be vested with the

Bank.

All deeds, bonds, agreements, instruments and working arrangements subsisting immediately before the commencement of this Act and affecting any of the property transferred under section 5, shall be in full force and effect against or in favour of the Bank and enforceable as fully and effectually as if, instead of the Fund or any person acting on its behalf, the Bank had been named therein or had been a party thereto.

Act was employed as an officer or servant of the Fund shall, on the commencement of this Act, be offered to be employed as an officer or

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servant of the Bank, upon terms and conditions of service no less favourable than those enjoyed by them as officers and servants of the

Fund immediately before the commencement of this Act.

If any difficulty or anomaly arises in connection with the implementation of the provisions of this Act, the Minister may, by order, make such rules or regulations as may appear to him necessary for removing or preventing such difficulty or anomaly.

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Act 251

PLANTERS’ LOANS FUND (DISSOLUTION)

ACT 1981

LIST OF AMENDMENTS

Amending law

Short title

In force from

– NIL –

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Act 251

PLANTERS’ LOANS FUND (DISSOLUTION)

ACT 1981

LIST OF SECTIONS AMENDED

Section

Amending authority

In force from

– NIL –