Pengurusan Danaharta Nasional Berhad Act 1998 · s 28

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28.
Duration of administration
(1) Subject to subsection (2), the administration of the affected person by the Special Administrator appointed under section 23 or 24
shall commence from the date of appointment of the Special
Administrator and shall continue until it is terminated by the
Corporation with the approval of the Oversight Committee.
(2) The Special Administrator shall be released from his appointment upon the approval of the termination of his appointment by the Oversight Committee on the recommendation of the
Corporation.
(3) Where the Special Administrator is released from his appointment under this section, he shall, with effect from such release, be discharged from all duties and liabilities in respect of his administration or otherwise in relation to his conduct as a Special
Administrator.

*NOTE—This Offshore Banking Act 1990 [Act 443] has since been repealed by Labuan Financial
Services and Securities Act 2010 [Act 704] which comes into operation on 11 February 2010 —see
Labuan Financial Services And Securities Act 2010 [Act 704].

Pengurusan Danaharta Nasional Berhad                    37
(4) Nothing in this section shall prevent an action or other proceedings by any party for loss or damage due to the willful misconduct or gross negligence of the Special Administrator.

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s 28Duration of administration

(1)

Subject to subsection (2), the administration of the affected person by the Special Administrator appointed under section 23 or 24

shall commence from the date of appointment of the Special

Administrator and shall continue until it is terminated by the

Corporation with the approval of the Oversight Committee.

(2)

The Special Administrator shall be released from his appointment upon the approval of the termination of his appointment by the Oversight Committee on the recommendation of the

Corporation.

(3)

Where the Special Administrator is released from his appointment under this section, he shall, with effect from such release, be discharged from all duties and liabilities in respect of his administration or otherwise in relation to his conduct as a Special

Administrator.

*NOTE—This Offshore Banking Act 1990 [Act 443] has since been repealed by Labuan Financial

Services and Securities Act 2010 [Act 704] which comes into operation on 11 February 2010 —see

Labuan Financial Services And Securities Act 2010 [Act 704].

Pengurusan Danaharta Nasional Berhad 37

(4)

Nothing in this section shall prevent an action or other proceedings by any party for loss or damage due to the willful misconduct or gross negligence of the Special Administrator.