Malaysia legislation
Section 5
of MALAYSIAN INDUSTRIAL DEVELOPMENT AUTHORITY (INCORPORATION) (AMENDMENT) ACT 2011
Section 5
The principal Act is amended by substituting for section 3
the following section:
Quoted provision
Section 3
(2)
The Authority shall have perpetual succession and a common seal.
(3)
Subject to and for the purposes of this Act, the Authority may, upon such term as it deems fit—
(a)
enter into contracts;
(b)
acquire, purchase, take, hold and enjoy movable and immovable property of every description; and
(c)
convey, assign, surrender, charge, mortgage, demise, reassign, transfer, or otherwise dispose of, or deal with, any movable or immovable property or any interest vested in the Authority.”.
Amendment of section 3a