Standards of Malaysia Act 1996 · Updated to 30 Apr 2012 · Part II · Vesting of Property, Etc., in Successor Company
5. Government investment in further issues of shares of the successor company
Official textFrom Laws of Malaysia Online, unchanged
Further issues of the shares of the successor company shall only be made as the Minister of Finance may, after consultation with the Minister, at any time, direct.
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, liabilities and functions of the Institute are transferred and vested in;
Any expenses incurred by the Minister of Finance in consequence of the provisions of this section shall be treated as investments and be authorized under subparagraph 8(3)(a)(iv) of the
Minister
“Minister” means the Minister for the time being charged with the responsibility for standards and accreditation;
Financial Procedure Act 1957 [Act 61].
Any dividends or other sums received by the Minister of
Finance under this section shall be paid into the Consolidated Fund.
Stamp duty shall not be chargeable in respect of any increase in the capital of the successor company which—
is effected by the issue of shares; and
is certified by the Treasury as having been effected by the issue of shares subscribed for by the Minister of Finance under subsection (1).
Terms defined in s 2
Minister
Defined · s 2“Minister” means the Minister for the time being charged with the responsibility for standards and accreditation;
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, liabilities and functions of the Institute are transferred and vested in;
Part III
Director General of the Department of Standards
Part IV
Establishment of the Standards and Accreditation Council
Part V
Standards and Accreditation
Part VI
General
Part VII