Pengurusan Danaharta Nasional Berhad Act 1998 · Updated to 1 Feb 2013 · Part VI · Management of Assets and Liabilities
31. General duties of Special Administrator
Official textFrom Laws of Malaysia Online, unchanged
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.
asset
“asset” includes any credit facility, property and business or enterprise of any kind;
The Special Administrator shall manage the asset and affairs of the affected person—
Special Administrator
“Special Administrator” means the person appointed under section 23 or 24;
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
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.
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.
Terms defined in this Act
affected person
Defined · s 21“affected person” means— (a) any company owing a duty or liability under a credit facility to the Corporation or any subsidiary of the Corporation, whether present, future, vested or contingent; (b) any subsidiary of the company referred to in paragraph (a); (c) any company which has provided security for the performance of or discharge of a duty or liability owed by any person to the Corporation or any subsidiary of the Corporation, whether present, future, vested or contingent; or Pengurusan Danaharta Nasional Berhad 31 (d) any company where at least two per cent of its share capital has been charged, pledged or mortgaged by any person to secure the performance of or discharge of a duty or liability owed by any person to the Corporation or any subsidiary of the Corporation, whether present, future, vested or contingent;
asset
Defined · s 2“asset” includes any credit facility, property and business or enterprise of any kind;
Special Administrator
Defined · s 2“Special Administrator” means the person appointed under section 23 or 24;
Part VII
Additional Rights
Part VIII
Application of Other Acts
Part IX
Application of the Act
Part X