Malaysia legislation
Section 2
of *LEMBAGA PADI DAN BERAS NEGARA (SUCCESSOR COMPANY) ACT 1994
Section 2
Interpretation
“Lembaga” means the *Lembaga Padi dan Beras Negara established under the *Lembaga Padi dan Beras Negara Act 1971
[Act 47];
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“appointed date” means the date on which this Act shall come into force;
“Corporation” means the Minister of Finance incorporated by the
Minister of Finance (Incorporation) Act 1957 [Act 375];
“land” means land as defined in section 5 of the National Land
Code 1965 [Act 56 of 1965];
“liabilities” means liabilities, debts, charges, duties and obligations of every description (whether present or future, actual or contingent, and whether payable or to be observed or performed in Malaysia or elsewhere);
“Minister” means the Minister for the time being charged with the responsibility for padi and rice;
“property” means—
(a)
all movable property and all interests, rights and liabilities, whether equitable or legal in, to or out of such property, choses in action, money and goodwill; and
(b)
all rights and liabilities in respect of contracts in relation to the construction of buildings, and “vested”, in relation to property, includes rights to property which are future or contingent;
“rights” means all rights, powers, privileges and immunities, whether actual, contingent or prospective, except—
(a)
the right of the Government to regulate in respect of matters relating to padi and rice;
(b)
the exclusive and perpetual right to import and export rice or any other exclusive and perpetual rights related thereto;
and
Lembaga Padi Dan Beras Negara (Successor Company) 7
(c)
rights in relation to land;
“successor company” means the company limited by shares incorporated under the Companies Act 1965 [Act 125], and named by the Minister in the order under subsection 3(1), to which property, rights and liabilities of the Lembaga Padi dan Beras Negara are transferred and vested in under section 3;
“vesting date” means the date on which all property, rights and liabilities of the Lembaga are transferred to and vested in the successor company as specified by the Minister in the order under subsection 3(1).