Malaysia legislation
Section 4
of MALAYSIA CO-OPERATIVE SOCIETIES COMMISSION (AMENDMENT) ACT 2023
Section 4
Amendment of section 11
(a)
by substituting for subsection (1) the following subsection:
“(1) The Commission shall have a board of directors which shall be responsible for the conduct of the business and affairs of the Commission and shall exercise all powers and do all acts which may be exercised or done by the Commission.”;
(b)
by deleting subsection (2);
(c)
by substituting for subsection (3) the following subsection:
“(3) The Board shall consist of the following directors:
(a)
a C h a i r m a n a p p o i n t e d b y t h e
Yang di-Pertuan Agong, on the advice of the Minister;
Malaysia Co-operative Societies Commission
(Amendment)
(b)
the Secretary General or a Deputy
Secretary General of the Ministry charged with the responsibility for co-operative development as nominated by the
Minister;
(c)
the Secretary General of Treasury or a Deputy Secretary General of Treasury or any representative of the Ministry of
Finance;
(d)
a Secretary General or a Deputy
Secretary General of a ministry as appointed by the Minister;
(e)
the Governor, or a Deputy Governor or an Assistant Governor of Bank Negara
Malaysia as nominated by the Governor;
(f)
a Chief Executive Officer appointed by the Minister under section 11a; and
(g)
six persons appointed by the Minister, at least two of whom shall be persons of standing and experience in the co-operative movement.”;
(d)
by deleting subsections (4), (5) and (6);
(e)
in subsection (7)—
(i)
by substituting for the words “Executive Chairman and the Deputy Executive Chairman” the word
“Chairman”; and
(ii)
by substituting for the words “their respective letters of appointment” the words “his letter of appointment”; and
(f)
by deleting subsection (8).
New sections 11a, 11b, 11c and 11d