Enakmen Perbadanan NS Corporation

NS Corporation 2018 19
Part IV

FINANCIAL

Corporation Fund

23. (1) A fund to be known as the “NS Corporation Fund” is
established and shall be controlled, maintained and operated by the
Corporation.

(2) The Corporation Fund shall consist of—

(a) such sums as may be provided by the Federal Government
and State Government from time to time to the Corporation;

(b) any grant by the Federal Government and State Government;
and

(c) any income, investment revenue, donations, fees, charges
and all other moneys lawfully received by the Corporation.

Expenditure to be charged on Corporation Fund

24. The Fund shall be expended for the following purposes:

(a) paying any expenditure lawfully incurred by the Corporation;

(b) paying for the allowances and other expenses of the members
of the Corporation and members of the committees and
the remunerations, allowances and other expenses of the
officers and employees of the Corporation, including the
granting of loans and advances, superannuation
allowances, retirement benefits and gratuities;

(c) paying any other expenses, costs or expenditure properly
incurred or accepted by the Corporation for the purpose
of the management of the Corporation, including the
engagement of consultants, legal fees and costs and other
charges and costs;

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(d) purchasing or hiring equipment, machinery and any
other material, acquiring land and any assets, and
erecting buildings and carrying out any other works and
undertakings for the purpose of the management of the
Corporation; and

(e) generally, paying any expenses for the purpose of the
management of the Corporation and carrying into effect
the provisions of this Enactment.

Conservation of Corporation Fund

25. The Corporation has the duty to conserve the Corporation Fund
by so performing its functions and exercising its powers under this
Enactment to secure that the total revenue of the Corporation are
sufficient to meet all sums properly chargeable to its revenue
account including depreciation and financing charges taking one
year with another.

Bank accounts

26. The Corporation shall open and maintain an account or
accounts with such bank or banks in Malaysia as it thinks fit, and
every such account shall be operated upon as far as practicable by
cheques signed by any person as may be authorized by the
Corporation or other method of payment as may be determined by
the Corporation for such purpose from time to time.

Financial procedure

27. The Corporation shall determine its own financial procedure.

Financial year

28. The financial year of the Corporation shall begin on 1 January
and end on 31 December of each year.

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Accounts and reports

29. (1) The Corporation shall cause proper accounts of the Fund
and proper reports of its activities to be kept and shall, as soon as
possible after the end of each financial year, cause to be prepared
for that financial year—

(a) a statement of accounts of the Corporation which shall
include a balance sheet and an account of income and
expenditure; and

(b) a statement of its activities.

(2) The Corporation shall as soon as possible send a copy of the
statement of accounts certified by the auditors and a copy of the
auditors’ report to the State Government and the Corporation shall
cause such statement and report to be laid before the Legislative
Assembly.

(3) The Statutory Bodies (Account and Annual Reports) Act
1980 [Act 240] shall apply to the Corporation.

Returns, reports, accounts and information

30. The State Government may from time to time request the
Corporation to furnish such returns, reports, accounts and
information with respect to the discharge of the functions of the
Corporation.

Part V

OTHER POWERS OF THE CORPORATION

Power to employ agents, etc.

31. The Corporation may employ, appoint and pay agents,
contractors and technical advisers, including advocates and
solicitors, bankers, stockbrokers, surveyors, valuers and other
persons, to transact any business, to carry out any project, scheme
or enterprise, or to do any act required to be transacted or done

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in the performance of its functions, the exercise of its powers or the
discharge of its duties or for the better carrying into effect the
purposes of this Enactment.

Power to establish companies

32. (1) The Corporation may, with the approval of the State
Government and Minister of Finance, establish companies under the
Companies Act 2016 [Act 777] to carry out and have the charge,
conduct and management of any project, scheme or enterprise
which has been planned or undertaken by the Corporation in the
performance of its functions or the exercise of its powers.

(2) The Corporation may, with the approval of the State
Government, decide that any companies establish by it under
subsection (1) shall be wound-up and dissolved according to any
written law in force.

Power to borrow

33. (1) The Corporation may, from time to time, with the approval
of the State Government and Minister of Finance, borrow, at such
rate of interest and for such period and upon such terms as to the
time and method of repayment and otherwise as the State
Government may approve, any sums required by the Corporation
for meeting any of its obligations or discharging any of its duties.

(2) The Corporation may from time to time, with the approval of
the State Government and Minister of Finance, borrow money by
the issue of bonds, debentures or stock of such class and value and
upon such terms as it may, with the approval of the State
Government and Minister of Finance, deem expedient, for all or any
of the following purposes:

(a) the provision of working capital;

(b) the performance of the functions, the exercise of the
powers and the discharge of the duties of the Corporation
under this Enactment;

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(c) the performance of such additional functions as may be
undertaken by the Corporation under this Enactment;

(d) the redemption of any shares or stock which it is required
or entitled to redeem; and

(e) any other expenditure properly chargeable to capital
account.

Part VI

GENERAL PROVISION

Public servant

34. The Chairman, members of the Corporation and of any
committee, officers, employees and agents of the Corporation,
while discharging their duties under this Enactment as Chairman,
such members, officers, employees or agents, shall be deemed to
be public servants within the meaning of the Penal Code [Act
574].

Public Authorities Protection Act 1948

35. The Public Authorities Protection Act 1948 [Act 198] shall
apply to any action, suit, prosecution or proceedings against the
Corporation or any member of the Corporation, a committee, an
officer, employee or agent of the Corporation in respect of any act,
omission, neglect or default done or committed by him in good faith
in such capacity.

Obligation of secrecy

36. Except for any of the purposes of this Enactment or for the
purposes of any civil or criminal proceedings under any written law
or where otherwise authorized by the Corporation—

(a) no member of the Corporation or any of its committees or
any officer, employee or agent of the Corporation whether
during or after his tenure of office or employment, and

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no person attending any meeting of the Corporation or
any of its committees, shall disclose any information
obtained by him in the course of his duties; and

(b) no other person who has by any means access to any
information or documents relating to the affairs of the
Corporation shall disclose such information or document.

Representation in civil proceedings

37. Notwithstanding any other written law—

(a) in any civil proceedings by or against the Corporation; or

(b) in any other civil proceedings in which the Corporation is
required or permitted by the court to be represented, or to
be heard, or is otherwise entitled to be represented or to be
heard,

any person authorized by the Corporation for that purpose may, on
behalf of the Corporation, institute such proceedings or appear in
such proceedings and may make all appearances and applications
and do all acts in respect of the proceedings on behalf of the
Corporation.

Power to make regulations

38. (1) The Corporation may, with the consent of the Ruler make
regulations which shall be published in the Gazette for carrying into
effect the provisions of this Enactment.

(2) Without prejudice to the generality of the powers conferred
under subsection (1), regulations may be made to provide for—

(a) responsibilities, control, conduct and discipline of officers
and servants of the Corporation;

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(b) the fees to be paid in respect of any act or thing done under
or in pursuance of this Enactment, and the method of
collecting and disposing of such fees;

(c) the forms, registers, books of account, reports, accounts,
estimates, and other documents to be used in respect of
any act or thing done under or in pursuance of this
Enactment;

(d) impose payment in any matters as determined by the
Corporation; and

(e) other matters necessary for the implementation of the
provisions of this Enactment.

Things done in anticipation of the enactment of this Enactment

39. All things done by any person or authority on behalf of the
Corporation in the preparation of and towards the proper
administration of this Enactment, and any expenditure incurred in
relation thereto, in anticipation of the enactment of this Enactment
shall be deemed to have been authorized by this Enactment, and
all rights acquired or obligations incurred on behalf of the
Corporation from anything so done shall upon the coming into
operation of this Enactment be deemed to be the rights and
obligations of the Corporation.

SCHEDULE
[Subsection 15(2)]
Procedure at Meetings

Conduct of meetings

1. (1) The Chairman shall preside over all meetings of the Corporation and in
his absence, Deputy Chairman shall preside over meeting and have all the powers
of the Chairman.

(2) The Secretary shall call for a meeting if requested to do so by the Chairman.

Quorum

2. The Chairman or in his absence, Deputy Chairman and at least half of the
members present at a meeting of the Corporation shall constitute a quorum.

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Casting vote

3. In the case of an equality of votes the Chairman shall have a casting vote.
A casting vote is an extra vote used by the Chairman when votes on each side
are equal.

Corporation may invite other person to attend any meeting

4. (1) The Corporation may invite any person to attend any meeting or
deliberation of the Corporation for the purpose of advising it on any matter under
discussion, but any person so attending shall have no right to vote at the meeting
or deliberation.

(2) A person invited under subparagraph 4(1) shall be paid such allowances and
other expenses as may be determined by the Corporation.

Minutes

5. (1) The Secretary shall cause minutes of all its meetings to be maintained and
kept in proper form.

(2) The minutes of meetings of the Corporation, if duly signed, shall, in any
legal proceedings, be admissible in evidence in all legal proceedings without
further proof.

(3) Every meeting of the Corporation of which minutes have been made in
accordance with subparagraphs 5(1) and 5(2) shall be deemed to have been duly
convened and held and all members at the meeting to have been duly qualified to
act.

Procedure

6. The Corporation may regulate its own procedure.

Validity of acts and proceedings

7. No act done or proceeding taken under this Act shall be questioned on the
ground of—

(a) any vacancy in the membership of, or any defect in the constitution
of, the Corporation; or

(b) any omission, defect or irregularity not affecting the merits of the
case.

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Members to devote time to business

8. (1) The members of the Corporation shall devote such time to the business of
the Corporation as is necessary to discharge their duties effectively.

(2) Nothing in this section shall prevent the Chairman from authorizing a
member to use live video, television links or other appropriate communication or
multimedia facilities to participate in any meeting of the Corporation.

Disclosure of interest

9. (1) A member of the Corporation or any committee who has or acquires a
direct or indirect interest by himself, through a member of his family or his
associate in relation to any matter under discussion by the Corporation or
committee, as the case may be, shall disclose to the Corporation or committee, as
the case may be, the fact of his interest and the nature of that interest.

(2) A disclosure under subparagraph 9(1) shall be recorded in the minutes of
the meeting of the Corporation or committee, as the case may be, in which the
matter is discussed and, after the disclosure—

(a) the member shall not be present or take part in any discussion or
decision of the Corporation or committee, as the case may be, about the
matter; and

(b) the member shall be disregarded for the purpose of constituting a
quorum of the Corporation or committee, as the case may be,

when the matter is discussed or decided upon.

(3) For the purposes of subparagraph 9(1)—

“a member of his family” includes—

(a) his spouse;

(b) his parent (including a parent of his spouse);

(c) his child (including an adopted child or stepchild);

(d) his brother or sister (including a brother or sister of his
spouse); and

(e) a spouse of his child, brother or sister.

“his associate” means—

(a) a person who is a nominee or an employee of the member;

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(b) a firm of which the member or any nominee of his is apartner;
(c) a partner of the member;
(d) a trustee of a trust under which the member or a member of his

family is a beneficiary; or
(e) any corporation within the meaning of the Companies Act 2016,

of which the member or any nominee of his or a member of
the member’s family is a director or has a substantial
shareholding in the corporation.

Passed in the State Legislative Assembly on 27 September 2018.
Mohd aMin bin Ludin

Clerk of the Legislative Assembly
Negeri Sembilan

DICETAK OLEH
PERCETAKAN NASIONAL MALAYSIA BERHAD,
KUALA LUMPUR
BAGI PIHAK DAN DENGAN PERINTAH KERAJAAN MALAYSIA