Pengurusan Danaharta Nasional Berhad Act 1998 · Updated to 1 Feb 2013 · Part VI · Management of Assets and Liabilities
33. Officers of affected person to perform or exercise function with written approval
Official textFrom Laws of Malaysia Online, unchanged
No person, including the board of directors of the affected person, other than the Special Administrator shall perform or exercise or purport to perform or exercise a function as an officer of the affected person, except with the prior written approval of the Special
Administrator.
40 Laws of Malaysia
For the purpose of subsection (1) the Special Administrator shall be entitled to exercise all the functions of the board of directors of the affected person.
Special Administrator
“Special Administrator” means the person appointed under section 23 or 24;
In this section—
an “officer” in relation to the affected person includes a receiver, receiver and manager, provisional liquidator and director; and
an employee of the affected person shall not be construed as an officer solely by virtue of him being an employee of the affected person.
Any person who contravenes subsection (1) 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;
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