Section 5
Initial Government holding in the Bank
of Bank Simpanan Nasional Berhad Act 1997
As a consequence of the vesting in the Bank of the property, rights and liabilities under section 4, the Bank shall issue such securities of the Bank as the Minister may, from time to time direct, to the Corporation.
(2)
Securities required to be issued in pursuance of this section shall—
(a)
be issued or allotted at such times and on such terms, as to allotment, as the Minister may direct;
(b)
be of such nominal value as the Minister may direct; and
(c)
be issued as fully paid and treated for the purposes of the
Companies Act 1965 as if they had been paid up by virtue of the payment to the Bank of their nominal value.
(3)
The Minister may dispose of any securities issued or any rights to securities initially allotted to the Corporation in pursuance of this section.
(4)
Any dividends or other sums received by the Corporation in right of, on the disposal of or otherwise in connection with, any securities or rights acquired by virtue of this section shall be paid into the Consolidated Fund.
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