Section 4
Initial Government holding in the successor company
of Postal Services (Successor Company) Act 1991
(1)
As a consequence of the vesting in the successor company of the property, rights and liabilities under section 3, the company shall issue such securities of the company as the Minister of Finance may, after consultation with the Minister, from time to time, direct—
(a)
to the Corporation; or
(b)
to any person entitled to require the issue of the securities following their initial allotment to the Corporation.
(2)
The Minister of Finance shall not give a direction under subsection (1) at a time when the successor company has ceased to be wholly owned by the Government of Malaysia.
(3)
Securities required to be issued in pursuance of this section shall be issued or allotted at such time and on such terms, as to allotment, as the Minister of Finance may, after consultation with the
Minister, direct.
(4)
Shares issued in pursuant of this section—
Postal Services (Successor Company) 9
(a)
shall be of such nominal value as the Minister of Finance may direct; and
(b)
shall be issued as fully paid and treated for the purposes of the Companies Act 1965 [Act 125] as if they had been paid up by virtue of the payment to the successor company of their nominal value.
(5)
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.
(6)
Any dividends or other sums received by the Corporation in right of, or on the disposal of, any securities or rights acquired by virtue of this section shall be paid into the Consolidated Fund.