Telecommunication Services (Successor Company) Act 1985 s 6
s 6 Government investment in securities of the successor company
(1) The Minister of Finance may, at any time, acquire—
(a) securities of the successor company or of any subsidiary of the successor company; or
(b) rights to subscribe for any such securities.
(2) The Minister of Finance may dispose of any securities or rights acquired under this section.
(3) Any expenses incurred by the Minister of Finance in consequence of the provisions of this section shall be treated as investments and be authorized under subparagraph 8(3)(a)(iv) of the Financial Procedure Act 1957 [Act 61].
(4) Any dividends or other sums received by the Corporation in right of, or on the disposal of, any securities or rights acquired under this section shall be paid into the Consolidated Fund.
(5) Stamp duty shall not be chargeable in respect of any increase in the capital of the successor company which—
(a) is effected by the issue of shares allotted at a time when the successor company was wholly owned by the Government; and
(b) is certified by the Treasury as having been effected by the issue of shares subscribed for by the Minister of Finance under paragraph (1)(a).
Malay text (authoritative)
Pelaburan Kerajaan dalam sekuriti syarikat pengganti
(1) Menteri Kewangan boleh pada bila-bila masa, memperoleh―
(a) sekuriti syarikat pengganti atau mana-mana subsidiari syarikat pengganti; atau
(b) hak untuk melanggan apa-apa sekuriti yang sedemikian.
Perkhidmatan Telekomunikasi (Syarikan Pengganti)
(2) Menteri Kewangan boleh melupuskan apa-apa sekuriti atau hak yang diperoleh di bawah seksyen ini.
(3) Apa-apa perbelanjaan yang ditanggung oleh Menteri Kewangan sebagai akibat daripada peruntukan seksyen ini hendaklah dianggap sebagai pelaburan dan dibenarkan di bawah subperenggan 8(3)(a)(iv) Akta Tatacara Kewangan 1957 [Akta 61].
(4) Apa-apa dividen atau jumlah wang lain yang diterima oleh Perbadanan sebagai hak pada, atau apabila dilupuskan, apa-apa sekuriti atau hak yang diperoleh di bawah seksyen ini hendaklah dibayar ke dalam Kumpulan Wang Disatukan.
(5) Duti setem tidak boleh dikenakan berkenaan dengan apa-apa pertambahan modal syarikat pengganti yang―
(a) dilakukan dengan penerbitan syer yang diumpukkan pada ketika syarikat pengganti dimiliki sepenuhnya oleh Kerajaan; dan
(b) diperakui oleh Perbendaharaan sebagai telah dilakukan dengan penerbitan syer yang dilanggan oleh Menteri Kewangan di bawah perenggan (1)(a).
Read this section in the full act → · Open Part II →
Find Act 322 on lom.agc.gov.my ↗
Text as at 1 January 2006 (LOM reprint); amendments made after that date may not be incorporated.
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).
