ACT 125

COMPANIES ACT 1965 (REVISED - 1973)

PART IV - SHARES, DEBENTURES AND CHARGES

DIVISION 5 - INTERESTS OTHER THAN SHARES, DEBENTURES, ETC.

Section 87. Approval of trustees.

(1) The Minister on the recommendation of Bank Negara Malaysia may, subject to such terms and conditions as he thinks fit, grant his approval to a company acting as trustee or representative for the purposes of a deed. (2) Notwithstanding subsection (1) the Minister on the recommendation of Bank Negara Malaysia may, having regard to the nature of the undertaking, scheme or enterprise, contract or arrangement to which a deed relates, grant his approval subject to such terms and conditions as he thinks fit to such other person acting as trustee or representative for the purpose of the deed. (3) The Minister may, at any time, by reason of a breach of a term or condition subject to which the approval was granted or for any other reason, revoke an approval granted by him under this section.