Malaysian Cocoa Board (Incorporation) Act 1988 · s 10

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10.  (1) The Board may, with the approval of the Minister after consultation with the Minister of Finance, by order published in the
Gazette, establish a corporation, by such name as the Board deems fit, to carry out and have the charge, conduct and management of any project, scheme or enterprise that has been planned or undertaken by the Board in the performance of its functions, the exercise of its powers or the discharge of its duties.
(2)
Every order made under subsection (1) shall make provisions in respect of—
(a) the constitution of the corporation;
(b) the financing of the corporation;
(c) the repayment of loans made to the corporation; and
(d) the accounts to be kept by the corporation and the audit of the accounts.
(3)
The provisions of the Second Schedule shall apply to the corporation established by the Board under subsection (1).
(4)
The Minister may make such rules or regulations prescribing any activity or interest or prescribing the terms or conditions of any activity or interest of any member, officer or servant of the Board in relation to the corporation and any omission or neglect to comply with and any act done or attempted to be done contrary to the provisions of such rules or regulations is an offence against this Act and the offender shall be liable on conviction to a fine not exceeding

18                                     Laws of Malaysia                          ACT 343
ten thousand ringgit or to imprisonment for a term not exceeding five years or to both.

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s 10

(1)

The Board may, with the approval of the Minister after consultation with the Minister of Finance, by order published in the

Gazette, establish a corporation, by such name as the Board deems fit, to carry out and have the charge, conduct and management of any project, scheme or enterprise that has been planned or undertaken by the Board in the performance of its functions, the exercise of its powers or the discharge of its duties.

(2)

Every order made under subsection (1) shall make provisions in respect of—

(a)

the constitution of the corporation;

(b)

the financing of the corporation;

(c)

the repayment of loans made to the corporation; and

(d)

the accounts to be kept by the corporation and the audit of the accounts.

(3)

The provisions of the Second Schedule shall apply to the corporation established by the Board under subsection (1).

(4)

The Minister may make such rules or regulations prescribing any activity or interest or prescribing the terms or conditions of any activity or interest of any member, officer or servant of the Board in relation to the corporation and any omission or neglect to comply with and any act done or attempted to be done contrary to the provisions of such rules or regulations is an offence against this Act and the offender shall be liable on conviction to a fine not exceeding

18 Laws of Malaysia ACT 343

ten thousand ringgit or to imprisonment for a term not exceeding five years or to both.