ACT 125
COMPANIES ACT 1965 (REVISED - 1973)
PART XI - VARIOUS TYPES OF COMPANIES, ETC.
DIVISION 1 - INVESTMENT COMPANIES

 
Section 319. Interpretation.
 
Section 319. Interpretation. (COMPANIES ACT 1965 (REVISED - 1973) - ACT 125) (1) In this Division, unless inconsistent with the context or subject matter—

"investment company" means a corporation (not being a private company) for the time being declared by order of the Minister to be an investment company;

"net tangible assets" means tangible assets at book values less total liabilities at book values and less any aggregate amount by which the book value of the marketable securities held by the corporation exceeds their market value.

Order of investment companies

(2) The Minister may, by order published in the Gazette, declare to be an investment company any corporation which is engaged primarily in the making of investments in marketable securities for the purpose of revenue and for profit and not for the purpose of exercising control, and the Minister may by like order revoke any order declaring a corporation to be an investment company.