Malaysia legislation
Section 5
Section 5
(1)
Before exercising its power under section 4, the Port Authority shall prepare and submit to the Minister a port privatisation plan for his approval.
(2)
The port privatisation 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;
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(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 privatisation 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 privatisation plan.
(4)
No port privatisation plan shall be put into effect until it has been approved by the Minister.
(5)
Every port privatisation plan shall be put into effect in the form approved by the
Minister.
(6)
The Minister may grant approval of part of a port privatisation plan if he considers it appropriate and this Enactment shall apply to that part as if it were a port privatisation 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 privatisation plan.
Port undertakings to be transferred to licensed operator.