Establishment of the Majlis
(1) There is hereby established a body corporate by the name of “the Majlis Amanah Rakyat” (in this Act referred to as “the Majlis”) with perpetual succession and a common seal and may sue and be sued in its name and, subject to and for the purposes of this Act, may enter into contracts and may acquire, purchase, take, hold and enjoy movable and immovable property of every description and may convey, assign, surrender, yield up, charge, mortgage, demise, reassign, transfer or otherwise dispose of, or deal with, any movable or immovable property or any interest therein vested in the Majlis upon such terms as it deems fit.
(2) Schedule I shall have effect with respect to the Majlis.
(3) The Majlis shall consist of the following members to be appointed by the Minister:
(a) a Chairman;
(b) a Deputy Chairman; and
(c) not less than five nor more than nine other members of whom not less than three shall be public officers.
(4) The Minister shall, in respect of each member of the Majlis who is a public officer, appoint an alternate member who may attend any meeting of the Majlis which the member is for any reason whatsoever unable to attend and the alternate member, when so attending, shall for all purposes be deemed to be a member of the Majlis.
(5) If the Chairman is unable to exercise his functions under this Act owing to illness, absence from Malaysia or for any cause whatsoever, the Minister may appoint any other person, whether or not he is a member of the Majlis, to be a temporary Chairman who shall perform the functions and exercise the powers of the Chairman under this Act.
(6) A member of the Majlis, other than the Chairman, shall, unless his appointment is sooner resigned or revoked, hold office for such terms as may be specified in the instrument appointing him, and shall be eligible for re-appointment:
Provided that a member, other than the Chairman, shall not hold office for a term exceeding two years at any one time.
Appointment and salary of Chairman and fees and allowances of members
(1) The Chairman shall be appointed upon such terms and conditions as the Minister may determine.
(2) There shall be paid to the members of the Majlis such remuneration or allowances as the Majlis may determine with the approval of the Minister.
Powers of the Minister to give directions
The Minister may give to the Majlis directions, not inconsistent with this Act, as to the exercise of the functions of the Majlis; and the Majlis shall give effect to all such directions.
Duties and powers of the Majlis
(1) It shall be the duty of the Majlis to promote, stimulate, facilitate and undertake economic and social development in Malaysia and more particularly in the rural areas thereof.
(2) Subject to the prior approval of the Minister, and in the case of the power set out in paragraph (d), the concurrence of the Minister of Finance, the Majlis shall have powers for the purpose of the discharge of its duty under subsection (1)—
(a) to carry on all activities particularly the development of commercial and industrial enterprises, the carrying on whereof appears to it to be requisite, advantageous or convenient for or in connection with the discharge of its said duty, including the manufacturing, assemblying, processing, packing, grading and marketing of products, research and training;
(b) to promote the carrying on of any such activities by other bodies or persons, and for that purpose to establish or expand, or promote the establishment or expansion of, other bodies to carry on any such activities either under the control or partial control of the Majlis or independently, and to give assistance to such bodies or to other bodies or persons appearing to the Majlis to have facilities for the carrying on of any such activities, including financial assistance by the taking up of share or loan capital or by loan or otherwise;
(c) to carry on such activities in association with any person, public authority, corporation, company or other body (including the Federal Government or any State Government) as managing agent on its behalf or otherwise;
(ca) for the purpose of carrying on any such activities, to enter into a partnership, joint venture or co-operation in any manner or to enter into an arrangement for the sharing of profits;
(cb) to establish or promote the establishment of companies under the Companies Act 1965 [Act 125] to carry on or engage in any activity which has been planned or undertaken by the Majlis (including the taking over of the functions of a corporation which has been wound up and dissolved under Schedule IV);
(cc) to dispose of capital assets and to apply the proceeds of such disposals;
(d) to purchase, underwrite or otherwise acquire shares and securities of any public authority, corporation, company or other body, and to sell, hold or reissue, with or without guarantee, such shares and securities or otherwise dispose of or deal with them as the Majlis may determine;
(e) to establish, operate and maintain training and educational institutions and to do all things expedient or reasonably necessary for or incidental to the performance of this function; and
(f) to do all acts which the Majlis considers desirable or expedient.
(3) Notwithstanding any other provision in this Act or section 95 of the Private Higher Educational Institutions Act 1996 [Act 555], the Private Higher Educational Institutions Act 1996 shall apply to an educational institution established, operated and maintained under paragraph (2)(e).
6A . (Deleted by Act A302).
Source: Laws of Malaysia, Attorney General's Chambers of Malaysia (lom.agc.gov.my). Not a copy of the Gazette printed by the Government Printer (Interpretation Acts 1948 and 1967, s 61).
