Chemists Act 1975 · s 3

Suggest a correction

Tell us what is wrong in this text. We check every suggestion against the official version before we change anything.

What is wrong?Wrong or mistyped wordsWrong structure or numberingWrong title or detailsText that appears twice

What should change, and whyUp to 2,000 characters.The text as it should read (optional)

3. (1) There shall be established a body corporate by the name of
“Malaysian Institute of Chemistry” which shall have perpetual succession and a common seal and which may, subject to this Act, sue and be sued in its corporate name, enter into contracts, acquire, purchase, take, hold and enjoy movable and immovable property or any rights therein, and convey, assign, surrender, charge, mortgage, reassign, transfer, dispose of, or otherwise deal therewith.
(2)  Without prejudice to the generality of subsection (1), the
Institute may do all things necessary for the purpose of the Institute and in particular may, subject to subsection (3)—
(a)  purchase or lease any lands required for the purposes of the Institute;
(b)  take up and subscribe for or otherwise acquire stocks and shares in any company, if membership of the company is essential or advantageous to the Institute for the purpose of acquiring and holding any lease or tenancy from the company of land required for the purposes of the Institute;
(c)  except in the case of leases from month to month, sell, surrender, lease, exchange, or mortgage any land or building vested in it, in such manner as it finds most convenient or advantageous;

8                                      Laws of Malaysia                           ACT 158
(d)  borrow money whether by way of bank overdraft or otherwise for such of the purposes of the Institute as the
Council from time to time considers desirable;
(e)  guarantee any contract with any company from which the Institute holds or intends to hold any lease or tenancy in accordance with paragraph (b) and any other contract in which the Institute may have a financial interest and to which it may lawfully be a party under this section; and
(f)
receive gifts, donations and bequests from individuals, companies, foundations or other sources.
(3)  The exercise of the powers under paragraphs (2)(a), (b), (c),
(d) and (e) shall be with the approval of the Minister.

Edit the text above. Up to 20,000 characters.Where you checked it (optional)A link to the official version, if you have one.

The text as we hold it

Open the official text

s 3

(1)

There shall be established a body corporate by the name of

“Malaysian Institute of Chemistry” which shall have perpetual succession and a common seal and which may, subject to this Act, sue and be sued in its corporate name, enter into contracts, acquire, purchase, take, hold and enjoy movable and immovable property or any rights therein, and convey, assign, surrender, charge, mortgage, reassign, transfer, dispose of, or otherwise deal therewith.

(2)

Without prejudice to the generality of subsection (1), the

Institute may do all things necessary for the purpose of the Institute and in particular may, subject to subsection (3)—

(a)

purchase or lease any lands required for the purposes of the Institute;

(b)

take up and subscribe for or otherwise acquire stocks and shares in any company, if membership of the company is essential or advantageous to the Institute for the purpose of acquiring and holding any lease or tenancy from the company of land required for the purposes of the Institute;

(c)

except in the case of leases from month to month, sell, surrender, lease, exchange, or mortgage any land or building vested in it, in such manner as it finds most convenient or advantageous;

8 Laws of Malaysia ACT 158

(d)

borrow money whether by way of bank overdraft or otherwise for such of the purposes of the Institute as the

Council from time to time considers desirable;

(e)

guarantee any contract with any company from which the Institute holds or intends to hold any lease or tenancy in accordance with paragraph (b) and any other contract in which the Institute may have a financial interest and to which it may lawfully be a party under this section; and

(f)

receive gifts, donations and bequests from individuals, companies, foundations or other sources.

(3)

The exercise of the powers under paragraphs (2)(a), (b), (c),

(d)

and (e) shall be with the approval of the Minister.