Please enable JavaScript.
Coggle requires JavaScript to display documents.
Para 17 - Coggle Diagram
Para 17
-
-
Para 17(1)(a)
- transfer must be carried out between co in same group
- objective of achieving GEO
- consideration of transfer must be at least 75% shares and 25% in cash
-
Para 17(1)(b)
Transfer is carried out
- between co
- for any amount of considerations
- objective of reorganization, reconstruction/amalgamation
- comply with Gov's policy on cap participation (=>30% Bumiputera participation)
-
Para 17(1)(c)
Asset is distributed
- by a liquidator and
- the liquidation made under scheme of reorganization, reconstruction or amalgamation
- in compliance with Gov's policy on cap participation
-
Withdrawal of exemptions
The approval under Para 17(1) may be withdrawn within 3y after giving it, where
- transferee co ceases to be resident in Mas
- transferee co ceases to be in the same group of transferor co in case of Para 17(1)(a)
- it appears DG the transfer carried out for other purpose & not achieve GEO as Para 17(1)(a) and not comply with Gov policy as Para 17(1)(b)-(c)