Malaysia legislation
Section 4
Section 4
(1)
For the purpose of managing, administering and controlling the Fund there shall be established a Board of Trustees called "the Board of Trustees of Amanah Rakyat Negeri
Sabah" which shall consist of –
(a)
the Chief Minister, who shall be the Chairman; and
(b)
not more than four and not less than two other persons appointed by the
Yang di-Pertua Negeri for a term not exceeding three years.
(2)
A Trustee shall cease to hold office –
(a)
on his death;
(b)
on his resignation by writing to the Chairman; or
(c)
on the revocation of his appointment by the Yang di-Pertua Negeri.
(3)
The Board shall be a body corporate under the name of the Board of Trustees of
Amanah Rakyat Negeri Sabah and by that name shall have perpetual succession and a common seal, and the Board is hereby empowered for the purposes of the Trust to sue and
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be sued and to make contracts and to acquire, purchase, take, hold and enjoy movable and immovable property of every description, and to sell, convey, assign, surrender, mortgage, lease, or otherwise dispose of any movable or immovable property vested in the Board upon such terms as the Board may deem fit and to collect and receive further subscriptions and donations for the benefit of the Fund.
(4)
The Board may continue to act notwithstanding any vacancy in the number of the
Trustees.
(5)
The quorum of the Board shall be two.
(6)
The Chairman shall preside at all meetings of the Board.
(7)
The Chairman shall have a casting vote.
(8)
No salary, fee or honorarium shall be paid to any Trustee.
(9)
Subject to the Enactment, the Board shall have the powers to make rules and to regulate its proceedings.
Custody of common seal.