Malaysia legislation
Section 5
Section 5
Port privatization plan
(2)
The port privatization plan required by subsection (1) shall—
(a)
identify the port undertakings of the port authority;
(b)
state the estimated value of those port undertakings;
(c)
state the nature and extent of the liabilities, if any, to be transferred;
(d)
state the manner in which those port undertakings and liabilities are to be transferred or disposed of;
(e)
state the arrangement relating to the transfer of the relevant officers and servants from the port authority to a prospective operator; and
(f)
state such other matters as the port authority considers appropriate.
(3)
Where any matter is not included in the port privatization plan and the Minister considers that it should be so included, the
Minister may direct the port authority to consider the matter and report to the Minister concerning its inclusion in the port privatization plan.
(4)
No port privatization plan shall be put into effect until it has been approved by the Minister.
(5)
Every port privatization plan shall be put into effect in the form approved by the Minister.
(6)
The Minister may grant approval of part of a port privatization plan if he considers it appropriate and this Act shall apply to that part as if it were a port privatization plan.
(7)
The Minister may, after consultation with the port authority as he considers appropriate or on the application of the port authority, amend any approved port privatization plan.
8
Port undertakings to be transferred to licensed operator