Malaysia legislation
Section 6
of Sabah Energy Corporation Successor Company Enactment 1997
Section 6
(1)
The Chief Minister, State of Sabah may, after consultation with the Cabinet, appoint such persons as he thinks fit to act as his nominees for the purposes of section 4 or 5
and -
(a)
securities of the successor company may be disposed of by virtue of section 4 to any nominee of the Chief Minister, State of Sabah appointed
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for the purposes of that section or to any person as the Minister may determine; and
(b)
any such nominee appointed for the purposes of section 5 may acquire securities or rights in accordance with that section.
(2)
Any person holding any securities or rights as a nominee of the Chief Minister,
State of Sabah by virtue of subsection (1) shall hold and deal with them on such terms and in such manner as the Chief Minister, State of Sabah may direct.
Financial structure of the successor company.