Establishment of the Corporation
(1) There shall be established a body corporate to be known as the “Malaysia External Trade Development Corporation” which shall have perpetual succession and a common seal, which may sue and be sued in its corporate 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 Corporation upon such terms and conditions as it deems fit.
(2) The provisions of the Schedule shall apply to the Corporation.
Membership of the Corporation
(1) The Corporation shall consist of the following members:
(a) a Chairman;
(b) a representative of the Ministry responsible for international trade and industry;
(c) a representative of the Ministry of Finance;
(d) a representative of the Ministry responsible for primary industries;
(dd) the Chief Executive Officer appointed under subsection 20(1); and
(e) such other persons, not exceeding eight, as the Minister may determine.
(2) The members of the Corporation shall be appointed by the Minister and, subject to sections 5 and 6, shall, unless they sooner resign or their appointment are sooner revoked, hold office subject to such terms and conditions as the Minister may determine.
Tenure of office
Subject to section 6, members of the Corporation shall hold office for such period not exceeding three years as the Minister may determine at the time of their appointment and shall be eligible for reappointment.
Revocation of appointment and resignation of members
(1) The Minister may at any time revoke the appointment of any member of the Corporation without assigning any reason therefor.
(2) A member of the Corporation may at any time resign from his appointment by giving notice to the Minister.
Alternate members
(1) The Minister may, in respect of each member of the Corporation appointed under paragraphs 4(1)(b), (c) and (d), appoint one person to be an alternate member to attend in place of the member at the meetings of the Corporation if that member is for any reason unable to attend.
(2) When attending meetings of the Corporation, an alternate member shall for all purposes be deemed to be a member of the Corporation.
(3) An alternate member shall, unless he sooner resigns or his appointment is sooner revoked, cease to be an alternate member if the member in respect of whom he is an alternate ceases to be a member of the Corporation.
Temporary exercise of functions of Chairman
(1) The Minister may appoint any member of the Corporation to exercise the functions of the Chairman during any period the Chairman is for any reason unable to exercise his functions or during any period of any vacancy in the office of Chairman; and such member shall, during the period in which he is exercising the functions of the Chairman under this subsection, be deemed to be the Chairman.
(2) Until an appointment is made under subsection (1) or in default of such appointment, the member appointed under paragraph 4(1)(b) shall exercise the functions of and be deemed to be the Chairman of the Corporation.
Vacation of office
(1) The office of a member of the Corporation shall be vacated—
(a) if he dies;
(b) if, there has been proved against him, or, he has been convicted on, a charge in respect of—
(i) an offence involving fraud, dishonesty or moral turpitude; or
(ii) any other offences punishable with imprisonment (in itself only or in addition to or in lieu of a fine) for more than two years;
(c) if he becomes a bankrupt or has made an arrangement with his creditors;
(d) if he has been found or declared to be of unsound mind or is otherwise incapable of performing his duties or managing his affairs;
(e) if at three consecutive meetings of the Corporation, without leave in writing of the Minister, he has neither been present nor represented by the alternate member, if any, appointed in his respect;
(f) if his appointment is revoked by the Minister; or
(g) in the event of his resignation being accepted by the Minister.
(2) The provisions of subsection (1), other than paragraph (e), shall apply mutatis mutandis to an alternate member.
Filling of vacancies
Where any person ceases to be a member of the Corporation by reason of the provisions of this Act, the Minister may appoint another person to fill the vacancy for the remainder of the term for which the vacating member was appointed.
Remuneration or allowances
There shall be paid to the members and alternate members of the Corporation and members of committees such remuneration or allowances as the Minister may determine after consultation with the Minister of Finance.
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).
