MAJLIS AMANAH RAKYAT ACT 1966

LAWS OF MALAYSIA ONLINE VERSION OF UPDATED TEXT OF REPRINT Act 489 MAJLIS AMANAH RAKYAT ACT 1966 As at 15 February 2021 2 MAJLIS AMANAH RAKYAT ACT 1966 First enacted … … … … 1966 (Act No. 20 of 1966) Revised … … …. … 7 June 2016 PREVIOUS REPRINT First Reprint ... ... ... ... 2002 Second Reprint ... ... ... ... 2006 3 LAWS OF MALAYSIA Act 489 MAJLIS AMANAH RAKYAT ACT 1966 ARRANGEMENT OF SECTIONS PART I PRELIMINARY Section 1. Short title, commencement and application 2. Interpretation PART II ESTABLISHMENT OF MAJLIS 3. Establishment of the Majlis 4. Appointment and salary of Chairman and fees and allowances of members 5. Powers of the Minister to give directions 6. Duties and powers of the Majlis 6A. (Deleted) PART III DIVISIONS, COMMITTEES, OFFICERS AND SERVANTS 7. Director General and Deputy Director General 8. Organization of Majlis into divisions, appointment of directors and their responsibility 4 Laws of Malaysia ACT 489 Section 9. Appointment of committees 10. Appointment of other officers 11. Power of Majlis to delegate 12. Power to make rules relating to salaries, provident fund scheme, etc. PART IV FINANCE 13. Establishment of the Fund 14. Balancing of revenue account 15. Reserve fund 16. Expenses to be charged on the Fund 17. Expenditure and preparation of estimates 18. Accounts and audit 19. Annual report PART V OTHER POWERS OF MAJLIS 20. Power to borrow 21. Power to invest trust funds 22. General powers to transact business 23. Power to employ agents 24. Power to make loans 25. Power to establish corporations 26. Additional functions of the Majlis 27. Compulsory acquisition of land Majlis Amanah Rakyat PART VI MISCELLANEOUS PROVISIONS 28. Protection of the Majlis 29. Public Authorities Protection 30. (Deleted) 31. Public Servants 32. Obligation of secrecy 33. Offences in respect of loans and burden of proof 34. Public Prosecutor’s consent 35. Civil proceedings 36. The Majlis and corporation deemed to be a Malay or a native 37. Power to make regulations PART VII TRANSITIONAL 38. Repeal of the Rural and Industrial Development Authority Ordinance 1953 39. Continuance of laws, etc. 40. Transfer of powers, rights, liabilities and duties 41. Transfer of property 42. Existing contracts 43. Continuance of criminal and civil proceedings 44. Transfer of Fund 45. Continuance of officers and servants 46. Prevention of anomalies FIRST SCHEDULE FIRST A SCHEDULE (Deleted by Act A302) SECOND SCHEDULE THIRD SCHEDULE FOURTH SCHEDULE 5 7 LAWS OF MALAYSIA Act 489 MAJLIS AMANAH RAKYAT ACT 1966 An Act to establish a corporate body by the name of the Majlis Amanah Rakyat and for the purposes connected therewith. [Throughout Malaysia― 1 March 1966, P.U. 71/1966] 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, commencement and application 1. (1) This Act may be cited as the Majlis Amanah Rakyat Act 1966, and shall come into operation on such date as the Minister may by notification in the Gazette appoint, such date not being earlier than the date on which the notification is published. (2) This Act shall have effect throughout Malaysia. Interpretation 2. In this Act, unless the context otherwise requires— 8 Laws of Malaysia ACT 489 “appointed day” means the day appointed by the Minister under section 1; “Chairman” means the Chairman of the Majlis appointed under section 4 and includes the Deputy Chairman; “corporation” means a corporation established by the Majlis in the exercise of its power under section 25; “director” means an executive officer in the service of the Majlis appointed under section 8; “Director General” means the Director General of the Majlis and includes the Deputy Director General; “Fund” means the fund established under section 13; “Majlis” means the Majlis Amanah Rakyat established and incorporated under section 3. PART II ESTABLISHMENT OF MAJLIS Establishment of the Majlis 3. (1) There is hereby established a body corporate by the name of “the Majlis Amanah Rakyat” (in this Act referred to as “the Majlis”) with perpetual succession and a common seal and 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 Majlis upon such terms as it deems fit. (2) First Schedule shall have effect with respect to the Majlis. Majlis Amanah Rakyat 9 (3) The Majlis shall consist of the following members to be appointed by the Minister: (a) a Chairman; (b) a Deputy Chairman; and (c) not less than five nor more than nine other members of whom not less than three shall be public officers. (4) The Minister shall, in respect of each member of the Majlis who is a public officer, appoint an alternate member who may attend any meeting of the Majlis which the member is for any reason whatsoever unable to attend and the alternate member, when so attending, shall for all purposes be deemed to be a member of the Majlis. (5) If the Chairman is unable to exercise his functions under this Act owing to illness, absence from Malaysia or for any cause whatsoever, the Minister may appoint any other person, whether or not he is a member of the Majlis, to be a temporary Chairman who shall perform the functions and exercise the powers of the Chairman under this Act. (6) A member of the Majlis, other than the Chairman, shall, unless his appointment is sooner resigned or revoked, hold office for such terms as may be specified in the instrument appointing him, and shall be eligible for re-appointment: Provided that a member, other than the Chairman, shall not hold officer for a term exceeding two years at any one time. Appointment and salary of Chairman and fees and allowances of members 4. (1) The Chairman shall be appointed upon such terms and conditions as the Minister may determine. 10 Laws of Malaysia ACT 489 (2) There shall be paid to the members of the Majlis such remuneration or allowances as the Majlis may determine with the approval of the Minister. Powers of the Minister to give directions 5. The Minister may give to the Majlis directions, not inconsistent with this Act, as to the exercise of the functions of the Majlis;, and the Majlis shall give effect to all such directions. Duties and powers of the Majlis 6. (1) It shall be the duty of the Majlis to promote, stimulate, facilitate and undertake economic and social development in Malaysia and more particularly in the rural areas thereof. (2) Subject to the prior approval of the Minister, and in the case of the power set out in paragraph (d), the concurrence of the Minister of Finance, the Majlis shall have powers for the purpose of the discharge of its duty under subsection (1)— (a) to carry on all activities particularly the development of commercial and industrial enterprises, the carrying on whereof appears to it to be requisite, advantageous or convenient for or in connection with the discharge of its said duty, including the manufacturing, assemblying, processing, packing, grading and marketing of products, research and training; (b) to promote the carrying on of any such activities by other bodies or persons, and for that purpose to establish or expand, or promote the establishment or expansion of, other bodies to carry on any such activities either under the control or partial control of the Majlis or independently, and to give assistance to such bodies or to other bodies or persons appearing to the Majlis to have facilities for th carrying on of any such activities, including financial assistance by the taking up of share or loan capital, or by loan or otherwise; Majlis Amanah Rakyat 11 (c) to carry on such activities in association with any person, public authority, corporation, company or other body (including the Federal Government or any State Government) as managing agent on its behalf or otherwise; (ca) for the purpose of carrying on any such activities, to enter into a partnership, joint venture or co-operation in any manner or to enter into an arrangement for the sharing of profits; (cb) to establish or promote the establishment of companies under the *Companies Act 1965 [Act 125] to carry on or engage in any activity which has been planned or undertaken by the Majlis (including the taking over of the functions of a corporation which has been wound up and dissolved under Fourth Schedule); (cc) to dispose of capital assets and to apply the proceeds of such disposals; (d) to purchase, underwrite or otherwise acquire shares and securities of any public authority, corporation, company or other body, and to sell, hold or reissue, with or without guarantee, such shares and securities or otherwise dispose of or deal with them as the Majlis may determine; (e) to establish, operate and maintain training and educational institutions and to do all things expedient or reasonably necessary for or incidental to the performance of this function; and (f) to do all acts which the Majlis considers desirable or expedient. (3) Notwithstanding any other provision in this Act or section 95 of the Private Higher Educational Institutions Act 1996 [Act 555], the Private Higher Educational Institutions Act 1996 shall apply to an NOTE─ The Companies Act 1965 [Act 125] has been repealed by the Companies Act 2016 [Act 777] w.e.f. 31 January 2017. * 12 Laws of Malaysia ACT 489 educational institution established, operated and maintained under paragraph (2)(e). 6A. (Deleted by Act A302). PART III DIVISIONS, COMMITTEES, OFFICERS AND SERVANTS Director General and Deputy Director General 7. The Director General, who shall be appointed by the Minister, shall be responsible for the preparation of programmes, schemes or projects for the consideration of the Majlis, for the issue of policy guidance or of elucidation of decisions of the Majlis to officers and servants of the Majlis and for the supervision and control over the implementation of such decisions and he shall be assisted by one or more Deputy Director Generals to be appointed by the Majlis with the approval of the Minister. Organization of Majlis into divisions, appointment of directors and their responsibility 8. (1) The Majlis may set up such divisions as it may think desirable, and each division shall be under the control and charge of an executive officer designated as “the director”. (2) The director of each division shall be appointed by the Majlis with the approval of the Minister and shall be responsible to Director General. (3) It shall be the responsibility of the director of an appropriate division subject to the direction of the Director General to implement and execute the decision of the Majlis on matters pertaining to his division, to submit policy recommendations for consideration by the Majlis, to participate, without the right to vote, in any meeting of the Majlis whenever matters pertaining to his division are being Majlis Amanah Rakyat 13 considered in that meeting and also to exercise all powers that may be delegated to him by the Majlis. Appointment of committees 9. (1) The Majlis may appoint such committees as it may think desirable to exercise such functions as may be delegated to them by the Majlis and to examine and report to the Majlis on any matter whatsoever arising out of or connected with any of its powers and duties under this Act. (2) Any committee appointed under subsection (1) may include as its members and invite to any of its meetings, persons other than membe