Pengurusan Danaharta Nasional Berhad Act 1998 · s 31

Suggest a correction

Tell us what is wrong in this text. We check every suggestion against the official version before we change anything.

What is wrong?Wrong or mistyped wordsWrong structure or numberingWrong title or detailsText that appears twice

What should change, and whyUp to 2,000 characters.The text as it should read (optional)Edit the text above. Up to 20,000 characters.Where you checked it (optional)A link to the official version, if you have one.

The text as we hold it

Open the official text

s 31General duties of Special Administrator

(1)

Without prejudice to sections 36, 38 and 39, the Special

Administrator shall, on his appointment, take into his custody or under his control all the asset to which the affected person is or appears to be entitled.

(2)

The Special Administrator shall manage the asset and affairs of the affected person—

(a)

at any time prior to the approval of the proposal by the secured creditors of the affected person under section 46, in accordance with any directions given by the

Corporation; and

(b)

at any time after the approval of the proposal by the secured creditors of the affected person under section 46, in accordance with that proposal as it may be modified from time to time in accordance with section 48.

(3)

Any Special Administrator who contravenes this section commits an offence and shall on conviction be liable to a fine not exceeding two hundred and fifty thousand ringgit or to imprisonment for a term not exceeding three years or to both.