Section 5
The Company
of Promotion of Commercial Agriculture and Agro-based Industries Ordinance, 2004
—
(1)
The Company, which is charged with responsibilities to execute, implement and give effect to all directions, decisions and strategies made or determined by the Council and all policies of the Government in carrying out the objectives of this Ordinance, shall be nominated by the Minister by an Order to be published in the
Gazette, and shall be limited by shares and incorporated under the
Companies Act 1965 [Act 125].
(2)
The share capital of the Company shall be subscribed to and held by the State Financial Secretary, and shall not be allotted or transferred to or held by any other persons save and except with the prior authorization of the Majlis Mesyuarat Kerajaan Negeri.