Malaysia legislation
Section 4
of Brooke Dockyard and Engineering Works Corporation (Repeal and Successor Company) Ordinance, 1994
Section 4
Ordinance to come into force—
(a)
to the State Financial Secretary, to hold for the purposes of the Government of Sarawak; or
(b)
to any person entitled to require the issue of the shares following the initial allotment to the State Financial Secretary.
(2)
Shares issued in pursuance of this section—
(a)
shall be issued at such time and on such terms, as to allotment, as the Minister may direct;
(b)
shall be of such nominal value as the Minister may direct; and
(c)
shall be issued as fully paid up and treated for the purposes of the Companies Act 1965 [Act 125] as if such shares had been paid up by virtue of the payment to the successor company of their nominal value.
(3)
The State Financial Secretary may, after consultation with the Minister, dispose of any shares issued or of any rights to shares initially allocated to it in pursuance of this section.
(4)
The State Financial Secretary may, at any time, acquire—
(a)
shares or securities of the successor company or of any subsidiary of the successor company; or
(b)
rights to subscribe for any such shares or securities.
(5)
The State Financial Secretary may dispose of any shares, securities or rights acquired under this section or issued to him under section 6(2).
7
Stocks in Corporation held by State Financial Secretary