Pengurusan Danaharta Nasional Berhad Act 1998 · Updated to 1 Feb 2013 · Part VI · Management of Assets and Liabilities
Section 38
Official textFrom Laws of Malaysia Online, unchanged
No person is entitled, as against the Special Administrator—
Special Administrator
“Special Administrator” means the person appointed under section 23 or 24;
to retain possession of the books of the affected person; or
books
“books” includes a register, a document, an account or accounting records, however compiled, recorded or stored, and any other record of information;
to claim or enforce a lien on the books of the affected person.
affected person
“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;
The Special Administrator may give notice to a person and such person shall deliver to the Special Administrator the books so specified in the notice that are in his possession.
44 Laws of Malaysia
Subsections (1) and (2) shall not apply in relation to any books—
to which a secured creditor of the affected person is entitled to possession otherwise than because of a lien; or
of the affected person impounded by any regulatory body, but the Special Administrator shall be entitled to inspect and make copies of such books.
Any person who contravenes subsection (1) or (2) 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.
Special Administrator’s rights to assets of the affected person
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;
books
Defined · s 2“books” includes a register, a document, an account or accounting records, however compiled, recorded or stored, and any other record of information;
secured creditor
Defined · s 21“secured creditor” means a person who holds as security for a liability of an affected person— (a) a charge duly registered under the National Land Code, the Land Ordinance of Sabah or the Land Code of Sarawak over land belonging to the affected person; (b) a fixed or floating charge on the undertaking or property of the affected person and which, if required by subsection 108(3) of the Companies Act 1965, is duly registered in accordance with subsection 108(1) of the Companies Act 1965; (c) an assignment by an affected person of its rights under an agreement to purchase land or a parcel of a building where the issue document of title to the land or the strata title to the parcel of a building has not been issued at the time of the assignment; (d) the issue document of title to any land or any duplicate lease belonging to the affected person and in respect of which a lienholder’s caveat has been duly entered in accordance with the provisions of the National Land Code; (e) a charge, mortgage, pledge or lien over marketable securities (as defined in the Companies Act 1965) belonging to the affected person and which, if duly required by subsection 108(3) of the Companies Act 1965, is duly registered in accordance with subsection 108(1) of the Companies Act 1965; or (f) a charge, mortgage, pledge or lien over moneys placed on fixed deposit by the affected person duly registered under subsection 108(1) of the Companies Act 1965.
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