Section 5
Stocks in Corporation held by State Financial Secretary
of Sarawak Electricity Supply Corporation (Successor Company) Ordinance, 2004
State OrdinanceIn forceProvision 5 of 10
Section 5
Any stocks held by the State Financial Secretary for purposes of the State Government of Sarawak issued under the repealed Ordinance shall as from the transfer date be held by the State
Financial Secretary in the successor company and the successor company shall issue shares to the State Financial Secretary of a value not less than the value of the stocks held by the State Financial
Secretary in the Corporation immediately before the transfer date.
Financial arrangements of the successor company