Malaysian Airline System Berhad (Administration) Act 2015

This Act may be cited as the Malaysian Airline System

This Act comes into operation on a date to be appointed by the Minister by notification in the Gazette.

This Act shall apply—

Notwithstanding subsection (1), the Minister may, by order published in the Gazette, declare an earlier cessation of this

Notwithstanding subsection (1), this Act may, by a resolution passed by both Houses of Parliament, be extended for a further period as may be specified in the resolution.

In this Act, unless the context otherwise requires—

“regulatory body” means an authority that is responsible for the enforcement of laws;

“proposal” means the proposal under paragraph 17(1)(b);

“rights” means all rights, powers, privileges and immunities, whether actual, contingent or prospective;

“property” includes all property, movable and immovable, and all interests, easement or rights, whether equitable or legal in, to or out of the property, choses in action, money and goodwill;

“Malaysia Airlines Berhad” means the corporation referred to in section 23;

“Minister” means the Prime Minister of Malaysia;

“officer” has the meaning assigned to it in section 4 and subsection 132(6) of the Companies Act 1965 [Act 125];

“appointer” means the person who appoints an Administrator under section 5;

“creditor” includes counterparties in an agreement, contract or arrangement with the Administered Companies;

“Independent Advisor” means the person appointed under section 18;

“Administrator” means the person appointed under section 5;

“Company” means the Malaysian Airline System Berhad;

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“specified subsidiary companies” means the partially owned subsidiary companies listed in paragraph 4(c);

“Administered Companies” means the Company, its wholly owned subsidiary companies, and the specified subsidiary companies that have been placed under administration under section 4;

“liabilities” includes debts, charges and obligations of every description whether present or future, actual or contingent, and whether payable or to be observed or performed in Malaysia or elsewhere.