MALAYSIA EXTERNAL TRADE DEVELOPMENT CORPORATION ACT 1992

LAWS OF MALAYSIA ONLINE VERSION OF UPDATED TEXT OF REPRINT Act 490 MALAYSIA EXTERNAL TRADE DEVELOPMENT CORPORATION ACT 1992 As at 1 January 2013 2 MALAYSIA EXTERNAL TRADE DEVELOPMENT CORPORATION ACT 1992 Date of Royal Assent …. …. …. …. … .… …. 9 July 1992 Date of publication in the Gazette Latest amendment made by Act A916 which came into operation on …. …. …. …. …. … 16 July 1992 …. …. …. 17 February 1995 PREVIOUS REPRINTS … … … 2002 Second Reprint … … … 2006 First Reprint 3 LAWS OF MALAYSIA Act 490 MALAYSIA EXTERNAL TRADE DEVELOPMENT CORPORATION ACT 1992 ARRANGEMENT OF SECTIONS PART I PRELIMINARY Section 1. Short title and commencement 2. Interpretation PART II THE CORPORATION 3. Establishment of the Corporation 4. Membership of the Corporation 5. Tenure of office 6. Revocation of appointment and resignation of members 7. Alternate members 8. Temporary exercise of functions of Chairman 9. Vacation of office 10. Filling of vacancies 11. Remuneration or allowances 4 Laws of Malaysia ACT 490 PART III FUNCTIONS AND POWERS OF THE CORPORATION Section 12. Functions of the Corporation 13. Powers of the Corporation 14. Power to borrow 15. Power to grant loans 16. Power to establish companies 17. Power to appoint committees 18. Power to delegate 19. Power to employ PART IV CHIEF EXECUTIVE OFFICERS, OFFICERS AND SERVANTS OF THE CORPORATION 20. Appointment of the Chief Executive Officer 21. Duties of the Chief Executive Officer 22. Appointment of officers and servants of the Corporation 23. Discipline of officers and servants 24. Public Authorities Protection Act 1948 25. Public servants PART V FINANCIAL PROVISIONS 26. Imposition of levy 27. Offence 28. Trade Development Fund 29. Expenses to be charged on the Fund Malaysia External Trade Development Corporation Section 30. Balancing of revenue account 31. Reserve fund 32. Deposit and investment of the Fund 33. Expenditure and preparation of estimates 34. Statutory Bodies (Accounts and Annual Reports) Act 1980 35. Surcharge PART VI GENERAL 36. Power of Minister to make regulations 37. Returns, reports, accounts and information 38. Power of Minister to give directions SCHEDULE 5 7 LAWS OF MALAYSIA Act 490 MALAYSIA EXTERNAL TRADE DEVELOPMENT CORPORATION ACT 1992 An Act to provide for the establishment of a body corporate by the name of the Malaysia External Trade Development Corporation, and for other matters connected therewith. [1 March 1993, P.U. (B) 34/1993] BE IT ENACTED by the Seri Paduka Baginda Yang di-Pertuan Agong with the advice and consent of the Dewan Negara and Dewan Rakyat in Parliament assembled, and by the authority of the same, as follows: PART I PRELIMINARY Short title and commencement 1. This Act may be cited as the Malaysia External Trade Development Corporation Act 1992 and shall come into force on such date as the Minister may, by notification in the Gazette, appoint. Interpretation 2. In this Act, unless the context otherwise requires— 8 Laws of Malaysia ACT 490 “Chairman” means the Chairman of the Corporation appointed under section 4; “Chief Executive Officer” means the Chief Executive Officer of the Corporation appointed under section 20 and includes any officer directed under subsection 21(4) to perform the duties of the Chief Executive Officer; “committee” means a committee of the Corporation appointed under section 17; “company” has the same meaning as that assigned to “corporation” under subsection 4(1) of the Companies Act 1965 [Act 125]; “Corporation” means the Malaysia External Trade Development Corporation established under section 3; “Fund” means the Trade Development Fund established under section 28; “member” means a member of the Corporation appointed under section 4 and includes an alternate member appointed under section 7; “Minister” means the Minister responsible for international trade and industry. PART II THE CORPORATION Establishment of the Corporation 3. (1) There shall be established a body corporate to be known as Malaysia External Trade Development Corporation 9 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 4. (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. 10 Laws of Malaysia ACT 490 Tenure of office 5. 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 6. (1) The Minister may at any time revoke the appointment of any member of the Corporation without assigning any reason therefore. (2) A member of the Corporation may at any time resign from his appointment by giving notice to the Minister. Alternate members 7. (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 members is for any reason unable to attend. (2) When attending meetings of the Corporation, an alternate member shall for all purposes to 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. Malaysia External Trade Development Corporation 11 Temporary exercise of functions of Chairman 8. (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 9. (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 12 Laws of Malaysia ACT 490 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 10. 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 reminder of the term for which the vacating member was appointed. Remuneration or allowances 11. 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. PART III FUNCTIONS AND POWERS OF THE CORPORATION Functions of the Corporation 12. The Corporation shall have the following functions: Malaysia External Trade Development Corporation 13 (a) to promote, assist and develop Malaysia’s external trade with particular emphasis on the export of manufactured and semi-manufactured products and, on a selective basis, imports; (b) to formulate and implement a national export marketing strategy to promote the export of manufactured and semimanufactured products; (c) to undertake commercial intelligence and market research and create a comprehensive database of information for the improvement and development of trade; (d) to organize training programmes to improve the international marketing skills of the Malaysian exporters; (e) to enhance and protect Malaysia’s international trade interests abroad; (f) to represent Malaysia in any international forum in respect of any matter relating to trade; (g) to develop, promote, facilitate and assist in the service areas related to trade; (h) to advise the Government on matters affecting or in any way connected with trade and to act as the agent of the Government or for any person, body or organization on such matters; and (i) to do all such other matters and things as may be incidental to or consequential upon the discharge of its functions. Powers of the Corporation 13. The Corporation shall have the power to do all things reasonably necessary or expedient for the purpose of discharging its functions, or which is incidental or conducive to the discharge of those functions, and in particular, but without prejudice to the generality of the following: 14 Laws of Malaysia ACT 490 (a) to establish and maintain, with the approval of the Minister and concurrence of the Minister of Finance, offices in Malaysia and abroad; (b) to engage in any commercial activity for the purpose of promoting and developing trade and services; (c) to render assistance in any form to Malaysian exporters and importers; (d) to maintain a comprehensive database of information on markets, products, buyers and suppliers; (e) to establish and maintain, with the approval of the Minister and concurrence of the Minister of Finance, trade and exhibition centres in Malaysia and abroad to promote exports; (f) to organize trade promotion activities such as participation in trade fairs and despatch of trade missions; (g) to require the furnishing of information by Malaysian exporters and importers on matter relating to their businesses other than trade secrets; (h) to publish or to sponsor the publication of periodicals, booklets and other information materials; (i) to produce or to sponsor the production of documentary films and other audio-visual materials; (j) to charge for the use of any facility or service provided by the Corporation; (k) to appoint agents in any country to carry out its functions; (l) to organize courses and award certificates of profi