Section 5

the Government of Malaysia;

the Registrar-General of Co-operative Societies for

Malaysia under the Co-operative Societies Act 1993;

the Registrar of Fishermen’s Associations under the

Fishermen’s Associations Act 1971 [Act 44]; and

the Registrar of Farmers’ Organizations under the Farmers’

Organization Act 1973 [Act 109],

Malaysia Co-operative Societies Commission 13

(hereinafter in this section, the persons mentioned in paragraphs (b),

and (d) collectively referred to as “the transferor”) relating to co-operative societies and as specified by the Minister in such order shall, by virtue of this Act, be transferred to and vested in the

Commission without any conveyance, assignment or transfer.

Every power, function and duty of the transferor shall, by virtue of this Act, be transferred to and vest in the Commission.

Every property vested by virtue of subsection (1) in the

Commission shall be so vested in the Commission for the like title, estate or interest and on the like tenure as the property was vested or held immediately before the vesting date.

Every chose in action, right or liability vested by virtue of subsection (1) in the Commission may, on and after the vesting date, be sued on, recovered or enforced by the Commission in its own name and it shall not be necessary for the Commission, the

Government of Malaysia or the transferor to give notice—

Any pending legal proceedings by or against the Government of Malaysia or the transferor which relates to any property, right or liability transferred to and vested in the Commission by virtue of subsection (1) may, on and after the vesting date, be continued by or against the Commission:

Provided that nothing in subsection 61(1) shall apply to the disclosure by the Commission of any record, book, register, correspondence, other document whatsoever, material or information, relating to the business and affairs of the Commission to the

Government of Malaysia in relation to this subsection.

In the case of rights and liabilities arising under any loan which are vested in the Commission on the vesting date, the

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Commission may enter into such agreements or arrangements over such rights and liabilities with the Government of Malaysia or any other person.

On and after the vesting date, any agreement, deed or other arrangement relating to any property, right and liability transferred to and vested in the Commission under subsection (1) to which the

Government of Malaysia or the transferor was a party immediately before the vesting date, whether in writing or not, and whether or not of such a nature that rights and liabilities under the agreement, deed or other arrangement, as the case may be, could be assigned by the

Government of Malaysia or the transferor shall have effect as if the

Commission had been a party to such agreement, deed or other arrangement.

Common seal