Section 6
Members of Corporation to dispose of interest in any electricity undertaking in Sarawak
of Perbadanan Pembekalan Letrik Sarawak Act 1983
Every person appointed to be a member of the Corporation shall, within three months after his appointment, sell or dispose of all shares in any electricity undertaking which, at the time of his appointment, he owns or is interested in, directly or indirectly, for his own benefit or that of his immediate family, and it shall not be lawful for any member of the Corporation, whilst he holds office as such, to purchase or become interested in, directly or indirectly, for his own benefit or that of his immediate family, any shares in any electricity undertaking, and, if any member of the Corporation becomes so entitled, for his own benefit, under any will or succession, to any shares in any electricity undertaking, he shall sell or dispose of the same within three months after he has become entitled thereto:
Provided that the Minister may waive the requirements of this subsection in any specific case.
(2)
Any member of the Corporation who retains, purchases, takes or becomes or remains interested directly or indirectly in any shares in any electricity undertaking in contravention of the provisions of this section shall be disqualified from, and be deemed to have vacated his office as such member, and the Chairman shall cause an entry to that effect to be made in the minutes of the Corporation as soon as practicable after the fact of any such contravention comes to his knowledge.
(3)
The fact of any person disqualified under this section having sat on, or taken part in any proceeding of, the Corporation before such entry as aforesaid has been made in the minutes shall not invalidate any resolution or proceeding of the Corporation.
(4)
In this section—
“shares in any electricity undertaking” means any stock, shares, debentures, debenture stock, bonds or other securities of any company engaged in Sarawak in the generation, distribution or supply of energy, or the manufacture therein of electrical equipment,
14 Laws of Malaysia ACT 279
and includes any share or interest in any unincorporated undertaking similarly engaged.