Establishment of the Corporation
There shall be established a body corporate to be known as the “Small and Medium Industries Development Corporation” which shall have perpetual succession and a common seal, and which 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 Corporation upon such terms as it deems fit.
Composition of the Corporation
(1) The Corporation shall consist of the following members:
(a) a Chairman;
(b) a Deputy Chairman who shall be a representative from the Ministry of International Trade and Industry;
(c) a representative of the Ministry of Finance;
(d) a representative of the Economic Planning Unit of the Prime Minister’s Department;
(e) the Chief Executive Officer of the Corporation; and
(f) such other members, not exceeding six, 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 is sooner revoked, hold office subject to such terms and conditions as the Minister may determine.
(3) The provisions of the Schedule shall apply to the Corporation.
Tenure of office
Subject to section 6, members of the Corporation other than the Chief Executive Officer shall hold office for a term 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 giving any reason therefor.
(2) A member of the Corporation may at any time resign from his office by giving notice in writing to the Minister.
Temporary exercise of functions of the 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 the 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.
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, meetings of the Corporation that the 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 for whom he is an alternate member ceases to be a member of the Corporation.
Revocation of appointment
(1) A member of the Corporation shall be disqualified and his appointment as such member shall be revoked if—
(a) 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;
(b) he becomes a bankrupt or has made an arrangement with his creditors;
(c) he has been found or declared to be of unsound mind or is otherwise incapable of performing his duties or managing his affairs;
(d) 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.
(2) The provisions of subsection (1), other than paragraph (d), 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 member was appointed.
Allowance
There shall be paid to the members and alternate members of the Corporation such allowances as the Minister may determine.
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).
