ENACTMENT NO 4 OF 2000 ADMINISTRATION OF ISLAMIC RELIGIOUS AFFAIRS OF THE STATE OF PENANG
Section 4. New section 31A
The principal Enactment (En.7) ia amended by inserting after section 31 the following section-
31A. ''Power to establish a company
(1) The Majlis may with the approval of the Yang di - Pertuan Agong establish companies under the Companies act 1965 (Act 125)to carry out any activity of the Majlis in the execution of its duty or powers under section 30.
(2) Every company established or purported to be established by the Majlis under the Companies Act 1965 prior to the coming into force of this section shall be deemed to have been lawfully established and shall continue to exist as if it had been established and shall continue to exist as if it had been established by the Majlis under subsection (1).
(3) Any financing or financial assisstance provided by the Majlis to a company referred in subsection (2) shall be deemed to have been lawfully provided under subsection 7(2).''.