National Land Rehabilitation and Consolidation Authority (Succession and Dissolution) Act 1997 s 5
s 5 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 Corporation 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, on the disposal of or otherwise in connection with, 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)(b).
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 memohon beli mana-mana sekuriti sedemikian.
(2) Menteri Kewangan boleh melupuskan mana-mana sekuriti atau hak yang diperoleh di bawah seksyen ini.
(3) Apa-apa perbelanjaan yang dilakukan oleh Perbadanan berikutan dengan peruntukan seksyen ini hendaklah dikira sebagai pelaburan dan dibenarkan di bawah subperenggan 8(3)(a)(iv) Akta Prosedur Kewangan 1957 [Akta 61].
(4) Apa-apa dividen atau jumlah wang lain yang diterima oleh Perbadanan sebagai hak pada, atas pelupusan atau selainnya berkaitan dengan, mana-mana sekuriti atau hak yang diperoleh di bawah seksyen ini hendaklah dibayar ke dalam Kumpulan Wang Disatukan.
(5) Duti setem tidaklah boleh dikenakan berkenaan dengan apaapa pertambahan modal syarikat pengganti yang—
(a) dilaksanakan dengan penerbitan syer yang diuntukkan pada masa syarikat pengganti dipunyai pada keseluruhannya oleh Kerajaan; dan
(b) diperakui oleh Perbendaharaan sebagai telah dilaksanakan dengan penerbitan syer yang dimohon beli oleh Menteri Kewangan di bawah perenggan (1)(b).
Lembaga Pemulihan dan Penyatuan Tanah Negara (Penggantian dan Pembubaran)
Read this section in the full act → · Open Part II →
Find Act 570 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).
