Malaysia legislation
Section 4
of *PERBADANAN PEMBANGUNAN BANDAR (SUCCESSOR COMPANY) ACT 1996
Section 4
(2)
Securities required to be issued in pursuance of this section shall—
(a)
be issued or allotted at such times and on such terms, as to allotment, as the Minister of Finance may, after
*NOTE—The Perbadanan Pembangunan Bandar Act 1971 [Act 46] has since been repealed by the
Perbadanan Pembangunan Bandar (Dissolution) Act 1996 [Act 547]—see section 3 of Act 547.
Perbadanan Pembangunan Bandar 9
(Successor Company)
consultation with the Minister direct;
(b)
be of such nominal value as the Minister of Finance may direct; and
(c)
be issued as fully paid and treated for the purposes of the
*Companies Act 1965 as if they had been paid up by virtue of the payment to the successor company of their nominal value.
(3)
The Minister of Finance may, after consultation with the
Minister, dispose of any securities issued or of any rights to securities initially allotted to the Corporation in pursuance of this section.
(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 by virtue of this section shall be paid into the Consolidated Fund.
Government investment in securities of the successor company