Standards of Malaysia Act 1996 · Updated to 30 Apr 2012 · Part II · Vesting of Property, Etc., in Successor Company
Standards of Malaysia Act 1996 · Updated to 30 Apr 2012 · Part II · Vesting of Property, Etc., in Successor Company
Official textFrom Laws of Malaysia Online, unchanged
The Minister of Finance shall not—
Minister
“Minister” means the Minister for the time being charged with the responsibility for standards and accreditation;
sell or otherwise dispose of any shares in the successor company held by him to any person; or
permit shares in the successor company to be allotted to any person.
Nothing in subsection (1) shall apply to redeemable preference shares that—
are not convertible into shares of any other class; and
Standards of Malaysia 15
do not confer any rights to vote at any general meeting of the successor company.
Minister
“Minister” means the Minister for the time being charged with the responsibility for standards and accreditation;
rights
“rights” means all rights, powers, privileges and immunities, whether actual, contingent or prospective;
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;
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Part VII