Malaysia legislation
Section 4
of Sarawak Electricity Supply Corporation (Successor Company) Ordinance, 2004
Section 4
(a)
to the State Financial Secretary, to hold for the purposes of the Government; and
(b)
to any person whom the Minister certifies in writing to be entitled to be issued such shares and the amount of his entitlement.
(2)
Shares issued in pursuance of this section—
(a)
shall be issued at such time and on such terms, as to allotment, as the Minister may direct;
7
(b)
shall be of such nominal value as the Minister may direct; and
(c)
shall be issued as fully paid up and treated for the purposes of the Companies Act 1965 [Act 125] as if such shares had been paid up by virtue of the payment to the successor company of their nominal value.
(3)
The State Financial Secretary may, in accordance with the direction of the Minister, dispose of or otherwise deal with any shares issued or of any rights to shares initially allocated to it in pursuance of this section.
(4)
The State Financial Secretary may, at any time, acquire—
(a)
shares or securities of the successor company or of any subsidiary or related company thereof; or
(b)
rights to subscribe for any such shares or securities.
Stocks in Corporation held by State Financial Secretary