Malaysian Palm Oil Board Act 1998 · Updated to 1 Jan 2006 · Part II · Establishment of the Board
3. The Board and its objectives
Feedback & supportThere is established a body corporate by the name of
“Malaysian Palm Oil Board” with perpetual succession and a common seal, which may sue and be sued in its corporate name and, subject to and for the purposes of this Act, may enter into contracts and may acquire, purchase, take, hold and enjoy movable and immovable property of every description and may convey, assign, surrender, yield up, charge, mortgage, demise, reassign, transfer or otherwise dispose of, or deal with, any movable or immovable property or any interest therein vested in the Board upon such terms as it deems fit.
palm oil
“palm oil” means oil, whether in crude or processed form,originating or extracted from the pericarp of the oil palm fruit, and includes oil, whether in crude or processed form originating or extracted from the kernel of the oil palm fruit;
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The objectives of the Board are—
to promote and develop the oil palm industry of Malaysia;
and
to develop national objectives, policies and priorities for the orderly development and administration of the oil palm industry of Malaysia.
The provisions of the First Schedule shall apply to the
Board.