Pengurusan Danaharta Nasional Berhad Act 1998

The national land code amendment act 1998 the amendment act is intended to facilitate the implementation of the pengurusan danaharta nasional berhad act 1998 the danaharta act.

Pengurusan danaharta nasional berhad act 1998. Pengurusan danaharta nasional berhad is a public company incorporated under the companies act 1965. And the minister may appoint different dates for the coming into force of different provisions of this act in different parts of malaysia. The corporation and its objective 4. Part 2 resumes by looking at the rehabilitation of ailing companies under danaharta and discussion of whether danaharta and the danaharta act can be considered draconian.

Powers of the corporation 5. This act deals with the restructuring by danaharta corporation or its subsidiaries of distressed corporate debtors that were indebted under non performing loan obligations owed to malaysian financial institutions that were themselves in financial difficulties. Finally the role of danaharta in corporate rescue will be analysed. This act comes into operation on such date as the minister may by notification in the gazette appoint.

Pengurusan danaharta nasional berhad act 1998 danaharta act. Danaharta was established by the government of malaysia to act as the national asset management company or amc. This act shall apply throughout malaysia. 13 14 and final r eport 2005 danaharta kuala lumpur at 16.

This act may be cited as the pengurusan danaharta nasional berhad act 998. I sections 29a and 41 of the pengurusan danaharta nasional berhad act 1998 danaharta act which provide that appointment of a special administrator should not give rise to a termination or acceleration right and impose a 12 month moratorium during which set off is restricted except with danaharta s consent. Short title application and commencement 2. Interpretation part ii the corporation 3.

It is owned by the minister of finance incorporated. The pengurusan danaharta nasional berhad act 1998 was passed giving the national asset management company powers to take over npls from banks to be restructured and managed. 28 final report 2005 danaharta k. Application of the corporation s memorandum and articles of association 7.

Act 587 pengurusan danaharta nasional berhad act 1998 arrangement of sections part i preliminary section 1. The banking system was further strengthened through mergers and. Critics did not doubt the need for such special legislation as the pengurusan danaharta nasional berhad act 1998 which became law on sept 1 1998. And ii section 346c of the capital markets and services act 2007 cmsa.

The role of prokhas as an agent of danaharta once it ceased operation will subsequently be discussed.