Pengurusan Danaharta Nasional Berhad Act 1998 · Updated to 1 Feb 2013 · Part VI · Management of Assets and Liabilities
Section 39
Official textFrom Laws of Malaysia Online, unchanged
The Special Administrator may require any person who has in his possession or control assets or books to which the affected person appears to be entitled to deliver, convey, surrender or transfer the assets or books to the Special Administrator forthwith or within such period as the Special Administrator may direct.
Special Administrator
“Special Administrator” means the person appointed under section 23 or 24;
Where the Special Administrator seizes any property which is not property of the affected person and at the time of the seizure, believes, and has reasonable grounds for believing, that he is entitled to seize that property, then, the Special Administrator is not liable to any person in respect of any loss or damage resulting from the seizure unless that loss or damage is caused wilfully by the Special
property
“property” means any movable or immovable property and includes— (a) any right, interest, title, claim, chose in action, power or privilege, whether present or future, or whether vested or contingent; (b) any conveyance executed for conveying, assigning, appointing, surrendering, or otherwise transferring or disposing of movable property or immovable property; (c) any security, including any stock, share, debenture, bonds, loan stocks, transferable subscription rights or warrants; (d) any negotiable instrument, including any bank note, bearer note, bill of exchange, promissory note, cheque and negotiable certificate of deposit; (e) 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 (f) any other tangible or intangible property;
Administrator or any person who acts on his behalf or by the Special
Administrator’s own negligence.
Any person who fails to comply with the requirement of the
Special Administrator under 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.
Pengurusan Danaharta Nasional Berhad 45
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;
property
Defined · s 2“property” means any movable or immovable property and includes— (a) any right, interest, title, claim, chose in action, power or privilege, whether present or future, or whether vested or contingent; (b) any conveyance executed for conveying, assigning, appointing, surrendering, or otherwise transferring or disposing of movable property or immovable property; (c) any security, including any stock, share, debenture, bonds, loan stocks, transferable subscription rights or warrants; (d) any negotiable instrument, including any bank note, bearer note, bill of exchange, promissory note, cheque and negotiable certificate of deposit; (e) 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 (f) any other tangible or intangible property;
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