Malaysia legislation
Section 5
of *NATIONAL LAND REHABILITATION AND CONSOLIDATION AUTHORITY (SUCCESSION AND DISSOLUTION) ACT 1997
Section 5
(a)
securities of the successor company or of any subsidiary of the successor company; or
(b)
rights to subscribe for any such securities.
(2)
The Minister of Finance may dispose of any securities or rights acquired under this section.
(3)
Any expenses incurred by the Corporation in consequence of the provisions of this section shall be treated as investments and be authorized under subparagraph 8(3)(a)(iv) of the Financial
10 Laws of Malaysia ACT 570
Procedure Act 1957 [Act 61].
(4)
Any dividends or other sums received by the Corporation in right of, on the disposal of or otherwise in connection with, any securities or rights acquired under this section shall be paid into the Consolidated Fund.
(5)
Stamp duty shall not be chargeable in respect of any increase in the capital of the successor company which—
(a)
is effected by the issue of shares allotted at a time when the successor company was wholly owned by the
Government; and
(b)
is certified by the Treasury as having been effected by the issue of shares subscribed for by the Minister of
Finance under paragraph (1)(b).
Exercise of the Minister of Finance’s functions through nominees