Perbadanan Pembangunan Bandar Act 1971 · s 7

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s 7

(1)

The Perbadanan shall be responsible to the Minister, and the Minister may, from time to time, give directions not inconsistent with the provisions of this Act and the Perbadanan shall, as soon as possible, give effect to all such directions.

(2)

Without prejudice to the generality of subsection (1), and subject to consultation with the Perbadanan, the power of the Minister to give directions shall extend to the giving to it of directions—

(a)

as to the disposal of capital assets; and

(b)

as to the application of proceeds of such disposals, notwithstanding that the directions may be of a specific character:

Provided that no such direction shall, so long as any sum borrowed by the Perbadanan in accordance with the provisions of this Act remains outstanding, be given except with the concurrence of the Minister of Finance.