Perbadanan Pembangunan Bandar (Successor Company) Act 1996 · Updated to 15 Nov 2025 · Part II · Vesting of Property, Etc., in Successor Company
6. Exercise of the Minister of Finance’s functions through nominees
Official textFrom Laws of Malaysia Online, unchanged
The Minister of Finance may, after consultation with the
Minister
“Minister” means the Minister for the time being charged with the responsibility for urban development;
Minister, appoint such persons as he thinks fit to act as his nominees for the purposes of section 4 or 5 and⎯
securities of the successor company may be assigned under section 4 to any nominee of the Minister of Finance appointed for the purposes of that section or to any person entitled to require the issue of the securities following their initial allotment to any such nominee; and
any such nominee appointed for the purposes of section 5
may acquire securities or rights in accordance with that section.
Any person holding any securities or rights as a nominee of the
rights
“rights” means all rights, powers, privileges and immunities, whether actual, contingent or prospective except the right of the Perbadanan Pembangunan Bandar under section 18 of the *Perbadanan Pembangunan Bandar Act 1971;
Minister of Finance by virtue of subsection (1) shall hold and deal with them on such terms and in such manner as the Minister of Finance may direct.
Perbadanan Pembangunan Bandar 11
Perbadanan Pembangunan Bandar
“Perbadanan Pembangunan Bandar” means the Perbadanan Pembangunan Bandar established under the *Perbadanan Pembangunan Bandar Act 1971;
(Successor Company)
successor company
“successor company” means the company limited by shares incorporated under the **Companies Act 1965, and named by the Minister in the order under subsection 3(1), to which property, rights and liabilities of the Perbadanan Pembangunan Bandar are transferred and vested in under section 3;
Terms defined in s 2
Minister
Defined · s 2“Minister” means the Minister for the time being charged with the responsibility for urban development;
Perbadanan Pembangunan Bandar
Defined · s 2“Perbadanan Pembangunan Bandar” means the Perbadanan Pembangunan Bandar established under the *Perbadanan Pembangunan Bandar Act 1971;
rights
Defined · s 2“rights” means all rights, powers, privileges and immunities, whether actual, contingent or prospective except the right of the Perbadanan Pembangunan Bandar under section 18 of the *Perbadanan Pembangunan Bandar Act 1971;
successor company
Defined · s 2“successor company” means the company limited by shares incorporated under the **Companies Act 1965, and named by the Minister in the order under subsection 3(1), to which property, rights and liabilities of the Perbadanan Pembangunan Bandar are transferred and vested in under section 3;
Part III