Pengurusan Danaharta Nasional Berhad Act 1998 · Updated to 1 Feb 2013 · Part VI · Management of Assets and Liabilities
50. Rejection or discontinuance of proposal
Official textFrom Laws of Malaysia Online, unchanged
Where the Corporation directs the Special Administrator to abandon the proposal or otherwise discontinue the implementation of the proposal under section 49 or the proposal is not approved under section 46 or 48, the Corporation may consider other options to deal with the management and disposition of the assets of the affected person and may —
request the Special Administrator to submit a new proposal;
Special Administrator
“Special Administrator” means the person appointed under section 23 or 24;
remove the moratorium imposed under section 41; or
58 Laws of Malaysia
appoint a replacement Special Administrator.
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