Section 2

the giving of any advance, loan or other facility in whatever form or by whatever name called whereby the person to whom the advance, loan or facility is given has access, directly or indirectly, to the funds of the person giving it and shall include without limitation, any sale and buy back arrangement, hire purchase agreement, lease arrangement, joint venture arrangement, debt trading, guarantee, deferred payment sale, profit sharing arrangement and any other financing arrangements made in accordance with Islamic banking concepts in whatever form or by whatever name;

the giving of a guarantee in relation to the obligations of any person; or

any other dealing or transaction as may be prescribed by the Central Bank under section 2 of the Banking and

Financial Institutions Act 1989 [Act 372];

10 Laws of Malaysia

“creditor” means any person who is owed a liability by the affected person;

“disclosed claim” in relation to—

sections 13 to 18 means any specific claim disclosed to the Corporation in writing prior to the vesting date;

section 19 means any specific claim disclosed by the

Corporation to the acquiree in writing prior to the date specified in the transfer certificate;

“disclosed obligation” in respect of an asset acquired under Part V in relation to—

sections 13 to 18 means an obligation or liability owed to the obligor by the seller under or with respect to the asset and which obligation or liability is disclosed by the seller to the Corporation in writing prior to the vesting date;

section 19 means an obligation or liability owed to the obligor by the Corporation under or with respect to the asset and which obligation or liability is disclosed by the

Corporation to the acquiree in writing prior to the date specified in the transfer certificate;

“Independent Advisor” means a person appointed under section 26;

“interest in land” means—

any interest in land, whether registered or registrable, including one to which the Strata Titles Act 1985 [Act 318] applies and which is capable of being transferred under Part Fourteen of the

National Land Code [Act 56 of 1965] or Part V of the Land

Ordinance of Sabah [Sabah Cap. 68] or Part VI of the Land

Code of Sarawak [Sarawak Cap. 81];

any lienholder’s caveat or other caveats; and

any other rights and entitlements relating to land;

Pengurusan Danaharta Nasional Berhad 11

“liabilities” includes debts and obligations of every kind, whether present or future, or whether vested or contingent;

“licensed institution” has the meaning assigned to it in the Banking and Financial Institutions Act 1989;

“merchant bank” has the meaning assigned to it in the Banking and

Financial Institutions Act 1989;

“Minister” means the Minister for the time being charged with the responsibility for finance;

“Minister of Finance” means the Minister of Finance incorporated under the Minister of Finance (Incorporation) Act 1957 [Act 375];

“obligor” means any person who owes a duty or obligation of any nature, whether present or future, or whether vested or contingent, to the seller under or with respect to an asset, including without limitation, an obligor under a credit facility, security or other chose in action;

“property” means any movable or immovable property and includes—

any right, interest, title, claim, chose in action, power or privilege, whether present or future, or whether vested or contingent;

any conveyance executed for conveying, assigning, appointing, surrendering, or otherwise transferring or disposing of movable property or immovable property;

any security, including any stock, share, debenture, bonds, loan stocks, transferable subscription rights or warrants;

any negotiable instrument, including any bank note, bearer note, bill of exchange, promissory note, cheque and negotiable certificate of deposit;

any mortgage or charge, whether legal or equitable, guarantee, lien or pledge, whether actual or constructive, letter of hypothecation or trust receipt, indemnity, undertaking or other means of securing payment or

12 Laws of Malaysia discharge of a debt or liability, whether present or future, or whether vested or contingent; and

any other tangible or intangible property;

“registered interest” means any right or interest in—

a charge to which subsection 108(3) of the Companies Act 1965 applies and is duly registered in accordance with subsection 108(1) of the Companies Act 1965; or

land which is duly registered under the Strata Titles Act 1985, the National Land Code, the Land Ordinance of

Sabah or the Land Code of Sarawak;

“Registrar of land” means the Registrar under the National Land

Code, the Registrar under the Land Ordinance of Sabah or the

Registrar under the Land Code of Sarawak, as the case may be;

“security” includes a mortgage or charge, whether legal or equitable, debenture, bill of exchange, promissory note, guarantee, lien or pledge, whether actual or constructive, hypothecation, indemnity, undertaking or other means of securing payment or discharge of a debt or liability, whether present or future, or whether vested or contingent;

“seller” means a person from whom the Corporation acquires an asset;

“Special Administrator” means the person appointed under section 23 or 24;

“subsidiary”—

has the meaning assigned to it in the Companies Act 1965;

and

includes a scheme involving an interest under section 84

of the Companies Act 1965 and a unit trust scheme in which the Corporation has more than fifty per cent of the voting power or more than fifty per cent of the issued interests;

Pengurusan Danaharta Nasional Berhad 13

“transfer certificate” means a certificate issued under section 19 and includes a replacement transfer certificate issued under section 19A;

“unit trust scheme” means any arrangement made for the purpose, or having the effect, of providing facilities for the participation of persons as beneficiaries under a trust in profits or income arising from the acquisition, holding, management or disposal of debentures, stocks or shares of a company or any other property;

“vesting certificate” means a certificate issued under section 14 and includes a replacement vesting certificate issued under section 14A;

“vesting date” means the date stated on a vesting certificate as the date on which an asset vests in the Corporation or subsidiary, as the case may be.