Malaysia legislation
Section 5
of Sabah Economic Development And Investment Authority Enactment 2009
Section 5
The Authority
(1)
A body corporate by the name of the “Sabah Economic Development and
Investment Authority” is established.
(2)
The Authority shall have perpetual succession and a common seal.
(3)
The Authority may sue or be sued in its name.
(4)
Subject to and for the purposes of this Enactment, the Authority may, upon such terms as the Authority deems fit –
(a)
enter into contracts;
(b)
incorporate companies or acquire interests in companies;
(c)
invest its fund or other resources;
(d)
acquire, purchase, take and hold movable and immovable property of every description;
(e)
convey, assign, surrender, yield up, lease or sublease, demise, reassign, transfer, dispose of, or otherwise deal with, any movable or immovable property or any interest vested in the Authority;
(f)
appoint agents, consultants and advisors; and
(g)
do all things reasonably necessary or expedient or advantageous.
4
Objectives of the Authority