Section 5
Transfer of financial assets
of Bintulu Port Authority (Dissolution) Act 2024
ActIn forceProvision 5 of 12
Section 5
(1)
All financial assets standing in, or due to be paid to, the Authority shall, on the date of coming into operation of this Act, be transferred to the Government.
(2)
In this section, “financial asset” means any asset owned by the Authority including loans given, receivables from exchange dealings and investments, which can be liquidated to cash value.
Deposit, advanced receipt and lease rent