Section 2

―Authority‖ means the Federal Land Consolidation and

Rehabilitation Authority established under the National Land

Rehabilitation and Consolidation Authority (Incorporation) Act 1966 [Act 398];

―Corporation‖ means the Minister of Finance incorporated by the Minister of Finance (Incorporation) Act 1957 [Act 375];

―liabilities‖ means all kinds of 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 rural development;

―property‖ includes all property, movable or immovable, and all estates, interests, easements and rights, whether equitable or legal in, to or out of property, chose in action, money and goodwill;

―rights‖ means all rights, powers, privileges and immunities, whether actual, contingent or prospective;

―successor company‖ means the company limited by shares incorporated under the Companies Act 1965 [Act 125], and named by the Minister in the order made under subsection 3(1), to which property, rights and liabilities of the Authority are transferred and vested under that subsection;

―vested‖, in relation to property, includes rights to property which are future or contingent and rights in reversion and remainder;

―vesting date‖ means the date appointed by the Minister under subsection 3(1).

National Land Rehabilitation and 7

Consolidation Authority (Succession and

Dissolution)