Malaysia legislation
Section 31
Section 31
(1)
The Government shall be deemed to have a first charge, unless the Minister shall otherwise direct, on all immovable property at any time vested in, or acquired by the Authority to secure all moneys from time to time owing by the Authority to the Government or lent by the Government to the Authority.
(2)
Subject to the provisions of the foregoing subsection and excepting only such charges and mortgages as were created, or made by the Authority with the approval of the
Minister before such moneys became owing to or were advanced by the Government, such charge shall have priority over all other charges and mortgages.
(3)
The Yang di-Pertua Negeri by virtue of such charge may, at any time, so long as there are moneys owing by the Authority to the Government –
(a)
sell the whole or any part of the immovable property of the Authority, either by public auction or private contract, and on such sale execute a conveyance of the immovable property sold, which conveyance shall, without the concurrence of the Authority vest such property in the purchaser;
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(b)
by notification in the Gazette declare that the whole or any part of the immovable property of the Authority shall on a date to be mentioned in such notification vest in the Government, and thereafter the immovable property of the Authority described in the notification shall, on the date mentioned in the notification vest in the Government for all the estate, right, title and interest of the Authority, freed and discharged from all charges and mortgages, created or made by the Authority, saving only such charges and mortgages as are excepted in subsection (2) of this section and are subsisting securities;
(c)
appoint some person to receive the rents and other income which the
Authority is entitled to receive, or any portion thereof, and to apply the same in discharge of the amount due and of all expenses incurred in respect of the appointment of such person, and of the recovery by him of the said rents and income, and the person so appointed shall have for the recovery of the said rents or other income, all and singular powers conferred by this Enactment on the Authority for the said purpose.
(4)
Whenever any declaration has been made under this section notice thereof shall in the case of registered land be sent to the Registrar of Titles who shall thereupon enter in the land register a memorial of the registration of the vesting of the land in the Government.