Standards of Malaysia Act 1996 · s 4

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4.
Initial Government holding in the successor company
(1) As a consequence of the vesting in the successor company of the property, rights and liabilities under subsection 3(1), the successor company shall issue such securities of the company as the
Minister of Finance may, after consultation with the Minister, from time to time, direct.
(2)  Securities required to be issued in pursuance of this section shall be issued or allotted at such times and on such terms, as to allotment, as the Minister of Finance may, after consultation with the
Minister, direct.
(3)  Securities under this section—
(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 purpose 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.
(4) Any dividends or other sums received by the Minister of
Finance by virtue of this section shall be paid into the Consolidated
Fund.

Standards of Malaysia                                  13

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s 4Initial Government holding in the successor company

(1)

As a consequence of the vesting in the successor company of the property, rights and liabilities under subsection 3(1), the successor company shall issue such securities of the company as the

Minister of Finance may, after consultation with the Minister, from time to time, direct.

(2)

Securities required to be issued in pursuance of this section shall be issued or allotted at such times and on such terms, as to allotment, as the Minister of Finance may, after consultation with the

Minister, direct.

(3)

Securities under this section—

(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 purpose 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.

(4)

Any dividends or other sums received by the Minister of

Finance by virtue of this section shall be paid into the Consolidated

Fund.

Standards of Malaysia 13