Section 60
Application of the Act to subsidiaries of the Corporation
of Pengurusan Danaharta Nasional Berhad Act 1998
(2)
The Minister may, on the recommendation of the Corporation, by notification in the Gazette, prescribe such subsidiaries of the
Corporation for the purpose of subsection (1).
(3)
Subsection (1) shall immediately cease to apply when a subsidiary prescribed under subsection (2) is no longer a subsidiary of the Corporation.
(4)
Where a subsidiary does not carry on activities pursuant to the objectives of the Corporation, the Corporation shall inform the
Minister.
(5)
The Minister may, upon being informed by the Corporation under subsection (4) or upon being otherwise satisfied that a
64 Laws of Malaysia subsidiary does not carry on activities pursuant to the objectives of the Corporation, revoke the prescription of that subsidiary by notice in the Gazette, and subsection (1) shall immediately cease to apply to such subsidiary.
(6)
The notice of revocation under subsection (5) may contain such transitional provisions as the Minister thinks fit.