Section 8

subject to the approval of the Federal Government, to carry on or engage in any commercial activity, profit-making enterprise, joint-ventures, partnership, equity participation or any arrangements for the sharing of profits, union of interest, reciprocal concession or otherwise to co-operate with, act as authorized agent of, in association with or on behalf of, any Government entity, or body or person, whether local or foreign, for the purposes of carrying out development activities in the East Coast Economic Region;

to take or otherwise acquire shares and securities of any company or business, activity or transaction, capable of being conducted so as, directly or indirectly, to achieve the

14 Laws Of Malaysia ACT 688

objectives of the Council, and to sell, hold, or reissue with or without guarantee or otherwise deal with such shares and securities, or to underwrite or otherwise hold such shares and securities and to dispose of such shares and securities on such terms as the Council may determine;

to initiate and carry out studies of possible development and redevelopment areas and to propose plans outlining development or redevelopment activities, including identifying suitable locations and other key enablers for such purposes, and carry out surveys to determine if the undertaking and carrying out of the development or redevelopment projects are feasible;

to make recommendations and provide consultancy and advisory services on the implementation of policies, laws and actions, and uniform standards, guidelines, best practices, and administrative processes and procedures to be applied by any Government entity, body and person, whether local or foreign, for the purpose of facilitating development of the East Coast Economic Region;

to promote, recommend, facilitate, assist in, coordinate, organize, develop and undertake strategies and initiatives to enhance the international competitiveness of goods and services in the East Coast Economic Region, including strategies and initiatives relating to—

the development of strong regional and world class brands;

to identify the necessary infrastructure for the maintenance and expansion of the economy of the East Coast Economic

East Coast Economic Region Development Council 15

Region in accordance with the East Coast Economic Region

Master Plan;

to receive and channel any funds allocated by Parliament for the provision of infrastructure in the East Coast Economic

Region and monitor the construction, implementation, operation and upkeep of such infrastructure;

to establish, manage and operate any investment fund, whether relating to property, bonds, stock, shares, securities or otherwise, and to dissolve the investment fund on such terms as the Council may determine;

to develop, promote, recommend, facilitate, organize, coordinate and undertake social development initiatives aimed at alleviating poverty and reducing income disparity in the East Coast Economic Region; and

to make recommendations to the State Governments of

Kelantan, Terengganu, Pahang and Johor and local authorities within the East Coast Economic Region in relation to local government functions and services including local planning control and its regulation, approval or control of all buildings and building operations, the repair and removal of ruinous and dangerous buildings, and the prohibition, closure and demolition of a building of a particular class, design, facade or appearance in the East

Coast Economic Region.

Additional functions and powers of Council