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Planters’ Loans Fund (Dissolution) 1

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LAWS OF MALAYSIA
REPRINT

Act 251

PLANTERS’ LOANS FUND


(DISSOLUTION) ACT 1981
Incorporating all amendments up to 1 January 2006

PUBLISHED BY
THE COMMISSIONER OF LAW REVISION, MALAYSIA
UNDER THE AUTHORITY OF THE REVISION OF LAWS ACT 1968
IN COLLABORATION WITH
PERCETAKAN NASIONAL MALAYSIA BHD
2006

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PLANTERS’ LOANS FUND (DISSOLUTION)


ACT 1981

Date of Royal Assent ... ... ... … … 17 July 1981

Date of publication in the Gazette … ... 23 July 1981

PREVIOUS REPRINT

First Reprint ... ... ... ... ... 2001

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LAWS OF MALAYSIA

Act 251

PLANTERS’ LOANS FUND (DISSOLUTION)


ACT 1981

ARRANGEMENT OF SECTIONS

Section
1. Short title and commencement
2. Interpretation
3. Repeal and dissolution
4. Transfer of powers, rights, etc.
5. Transfer of property
6. Transfer of moneys
7. Existing contracts
8. Continuance of civil proceedings
9. Officers and servants
10. Prevention of difficulties or anomalies

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LAWS OF MALAYSIA

Act 251

PLANTERS’ LOANS FUND (DISSOLUTION)


ACT 1981

An Act to repeal the Planters’ Loans Fund Enactment, to dissolve


the Planters’ Loans Fund established under the said Enactment, to
transfer and vest all its properties and obligations to Bank Pertanian
Malaysia and to provide for other matters incidental thereto or
connected therewith.

[1 November 1981, P.U. (B) 634/1981]

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:

Short title and commencement

1. This Act may be cited as the Planters’ Loans Fund (Dissolution)


Act 1981 and shall come into force on a date to be appointed by
the Minister by notification in the Gazette.

Interpretation

2. In this Act, unless the context otherwise requires—

“Bank” means the Bank Pertanian Malaysia established under the


Bank Pertanian Malaysia Act 1969 [Act 9];

“Enactment” means the Planters’ Loans Fund Enactment [F.M.S.


Cap. 131];

“Fund” means the Planters’ Loans Fund established under the


Enactment;

“Minister” means the Minister charged with the responsibility


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“property” includes all estates, interests, charges, mortgages,
easements and rights, whether equitable or legal, in, to or out of
property, and things in action.

Repeal and dissolution

3. The Enactment is repealed and the Fund is dissolved.

Transfer of powers, rights, etc.

4. All powers, rights, privileges, duties, liabilities and obligations


that immediately before the commencement of this Act were those
of the Fund shall, on the commencement of this Act, devolve on
the Bank.

Transfer of property

5. All movable and immovable property and other assets which


immediately before the commencement of this Act were vested in
the Fund shall, on the commencement of this Act, and without any
conveyance, assignment or transfer whatever, vest in the Bank for
the like title, estate or interest and on the like tenure and for the
like purposes as the same was vested or held immediately before
the commencement of this Act.

Transfer of moneys

6. All moneys standing in, or due to be paid to the Fund shall,


on the commencement of this Act, be transferred to, and be vested
with the Bank.

Existing contracts

7. All deeds, bonds, agreements, instruments and working


arrangements subsisting immediately before the commencement
of this Act and affecting any of the property transferred under
section 5, shall be in full force and effect against or in favour of
the Bank and enforceable as fully and effectually as if, instead of
the Fund or any person acting on its behalf, the Bank had been
named therein or had been a party thereto.
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Continuance of civil proceedings

8. (1) Any civil proceedings or cause of action pending or existing


immediately before the commencement of this Act by or against
the Fund or any person acting on its behalf may be continued or
instituted by or against the Bank as it might have been by or
against the Fund or such person as if this Act had not been passed.

(2) Any appeal brought or any leave to appeal applied for on


or after the commencement of this Act against a decision given
before the commencement of this Act in any legal proceedings to
which the Fund was a party may be brought by or against the Bank.

Officers and servants

9. Every person who immediately before the commencement of


this Act was employed as an officer or servant of the Fund shall,
on the commencement of this Act, be offered to be employed as
an officer or servant of the Bank, upon terms and conditions of
service no less favourable than those enjoyed by them as officers
and servants of the Fund immediately before the commencement
of this Act.

Prevention of difficulties or anomalies

10. If any difficulty or anomaly arises in connection with the


implementation of the provisions of this Act, the Minister may, by
order, make such rules or regulations as may appear to him necessary
for removing or preventing such difficulty or anomaly.

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LAWS OF MALAYSIA

Act 251

PLANTERS’ LOANS FUND (DISSOLUTION)


ACT 1981

LIST OF AMENDMENTS

Amending law Short title In force from

– NIL –

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LAWS OF MALAYSIA

Act 251

PLANTERS’ LOANS FUND (DISSOLUTION)


ACT 1981

LIST OF SECTIONS AMENDED

Section Amending authority In force from

– NIL –

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PERCETAKAN NASIONAL MALAYSIA BERHAD,
KUALA LUMPUR
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