KORPORASI KEMAJUAN PERIKANAN DAN NELAYAN SABAH (KO-NELAYAN) ENACTMENT 1981

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GLORIOUS PETAL SDN BHD



KORPORASI KEMAJUAN PERIKANAN DAN NELAYAN SABAH (KO-NELAYAN) ENACTMENT 1981

ENACTED by the Legislature of the State of Sabah as follows:

PART I PRELIMINARY 1. Short title and commencement.

(1)This Enactment may be cited as the Korporasi Kemajuan Perikanan dan Nelayan Sabah (Ko-Nelayan) Enactment 1981 and shall come into operation on such date as the Minister may, by notice in the Gazette*, appoint.

(2)The Minister may appoint different dates for the coming into operation of different parts or provisions of the Enactment.

2. Interpretation.

In this Enactment, unless the context otherwise requires-

"Chairman means Chairman of the Corporation;

"Corporation" means the "Korporasi Kemajuan Perikanan dan Nelayan Sabah (Ko- Nelayan)" constituted under section 3;

"Deputy Chairman means Deputy Chairman of the Corporation;

"functions includes powers and duties;

"General Manager" means the General Manager appointed under section 21 of the Enactment and includes any person for the time being so appointed to perform the duties of the General Manager;

"member" means a member of the Corporation including the Chairman and Deputy Chairman and for the purposes of section 43, 44, 45 and 46 includes a member of a committee established under section 15 who is not a member of the Corporation;

"Minister" means the Minister for the time being charged with responsibilities for matters relating to fisheries;

"State means the State of Sabah.

PART II ESTABLISHMENT AND CONSTITUTION OF CORPORATION

3. Establishment of Corporation.

(1)As from the commencement of this Enactment there shall be constituted a Corporation by the name of "the Korporasi Kemajuan Perikanan dan Nelayan Sabah (Ko- Nelayan)" which shall be a body corporate with perpetual succession, capable of suing and being sued in its corporate name and with power to purchase or otherwise acquire, hold, and exchange or alienate or otherwise deal with in any lawful manner whatsoever, any property movable and immovable, and to enter into contracts and generally to do such acts and things as a body corporate may do by law and as are necessary for, or incidental to, the carrying out of its objects and the exercise of its powers as set out in this Enactment.

(2)The Corporation shall have a common seal which shall bear such device as the Corporation may approve and such seal may from time to time be broken, changed, altered and made anew by the Corporation, as the Corporation may think fit.

(3)Until a common seal is provided under subsection (2), a stamp bearing the inscription "Korporasi Kemajuan Perikanan dan Nelayan Sabah (Ko-Nelayan) may be used as the common seal of the Corporation.

4. Objects of the Corporation.

The objects of the Corporation shall be-

(a)to improve the economic and social well-being of the fishing community in Sabah, particularly the poor;

(b)to promote and assist the establishment of fishermen's cooperatives;

(c)to increase production of the fishing industry and accelerate development of aquaculture;

(d)to encourage modern, progressive, and commercial methods of fishing; and (e)to promote and develop a pool of skilled local entrepreneurs in the supply of ancillary services, including processing, marketing and distribution, to the fishing industry.

5. Composition of Corporation.

(1)The Corporation shall consist of the following members-

(a)a Chairman;

(b)a Deputy Chairman;

(c)not less than five and not more than seven other members; and

(d)the person for the time being holding the office of the General Manager.

(2)The Members specified in paragraphs (a), (b) and (c) of subsection (1) shall be appointed by the Yang di-Pertua Negeri.

(3)Subject to the provisions of section 8 of this Enactment, a member, other than the General Manager, shall hold office for a period of three years from the date of his appointment, and shall be eligible for re-appointment.

6. Resignation and revocation.

(1)A member, other than the General Manager, may at any time resign his office by giving notice in writing to the Chairman.

(2)The appointment of a member may at any time be revoked by the Yang di-Pertua Negeri if he thinks it expedient to do so.

7. Disqualification from membership.

The following persons shall be disqualified from being appointed as or, if appointed, remaining a member-

(a)a person who is of unsound mind or otherwise incapable of performing his duties or managing his affairs;

(b)a person who is prohibited from being a director of a company under the provisions of any written law relating to companies;

(c)a person who has been convicted of any offence involving fraud, dishonesty or moral turpitude; and

(d)a bankrupt . 8. Vacation of office.

The office of a member, other than the General Manager, shall become vacant-

(a)on his death;

(b)if he is absent from three consecutive meetings of the Corporation without the special leave of the Chairman or leave of absence granted under this Enactment and the Corporation passes a resolution declaring his office vacant;

(c)if he resigns his office;

(d)if he becomes disqualified for membership under section 7 of this Enactment;

(e)if his appointment is revoked by the Yang di-Pertua Negeri.

9. Leave of absence.

The Minister may grant to any member such leave of absence as the Minister may deem fit.

10. Casual vacancies and temporary membership.

(1)If the office of a member, other than the General Manager, becomes vacant, the Yang di-Pertua Negeri may appoint another suitably qualified person to fill such vacancy for so long only as the member in whose place he is appointed would have held office.

(2)Where any member, other than the General Manager, is prevented by illness, absence from the State or other like cause from performing his duties as a member the Yang di-Pertua Negeri may appoint any suitably qualified person to act as deputy for such member during such period as he is so prevented from performing his duties.

11. Remuneration of members of Corporation.

There shall be paid to the members, or to such of them as the Minister may determine, such salaries, fees and allowances out of the funds of the Corporation as the Minister may from time to time approve.

PART III PROCEDURE OF CORPORATION

12. Meetings.

(1)The Corporation shall meet as often as may be necessary or expedient for the transaction of its business and such meetings shall he held at such places and times as the Chairman may determine:

Provided that the Chairman shall not allow more than three months to elapse between such meetings.

(2)Where not less than three members, by notice in writing signed by them and addressed to the Chairman request that a meeting of the Corporation be held for any purpose specified in such notice the Chairman shall, within seven days of the receipt by him of such notice, convene a meeting accordingly.

13. Procedure of meetings.

(1)The quorum necessary for the transaction of the business of the Corporation shall be five.

(2)In the absence of the Chairman from any meeting of the Corporation, the Deputy Chairman shall preside thereat and, in the absence of both the Chairman and the Deputy Chairman, the members present shall elect one of their number to preside thereat.

(3)Questions arising at any meeting of the Corporation shall be decided by the votes of the majority of those present and voting thereon and in the case of an equality of votes the Chairman or other person presiding at such meeting shall have a second or casting vote.

(4)Subject to the provisions of this Part, the Corporation shall have power to make standing orders to regulate its own proceedings.

14. Members interested not to vote . (1)Any member who has or acquires, directly or indirectly by himself, his partner or agent—

(a)any share or interest in any contract made with or done for the Corporation or in any company or with any person or in respect of any undertaking with which the Corporation proposes to contract; or

(b)any beneficial interest in land proposed to be acquired, purchased, leased or otherwise dealt with by the Corporation or which he knows to be affected by any project, scheme or enterprise approved or proposed to be approved by the Corporation, shall, before taking part in any proceedings at a meeting of the Corporation, relating to or affecting directly or indirectly any such contract, land or other matter, inform the person presiding at such meeting of the nature and extent of such share or interest, and such information shall be recorded in the minutes of such meeting and such member shall not vote upon any resolution or question relating thereto or to matters incidental thereto and if the person presiding at the meeting so requests, such member shall withdraw from the meeting during such deliberation or decision:

Provided that no member shall be deemed to have or acquire any share or interest in a contract with the Corporation by reason only that he has or acquires a share in any loan issued by the Corporation or in any security for the same:

Provided further that for the purpose of determining whether there is a quorum a member who attends the meeting shall be treated as being present notwithstanding that, under the provision of this section, he may not vote or has withdrawn.

(2)Any person who contravenes or fails to comply with the provisions of subsection (1) of this section shall be guilty of an offence and shall be liable on conviction to a fine of one thousand ringgit and imprisonment for six months.

15. Power to appoint committee.

(1)Subject to the provisions of this Enactment, the Corporation may, for any general or special purpose, appoint such committees as it thinks desirable.

(2)A committee may do all such things as may be necessary for the effective carrying out of its functions but shall be subject to the general directions of the Corporation.

(3)A committee shall consist of a Chairman and not more than five other persons.

(4)A committee may consist of persons who are not members of the Corporation.

(5)Members of a committee may be paid such remuneration or allowance as the Corporation may, with the approval of the Minister, determine.

16. Meetings of a committee.

(1)In the absence of the Chairman of a committee from any meeting of the committee, such other member of the committee as may be elected by the members present shall preside over the meeting.

(2)The quorum for the meeting of a committee shall be three.

(3)Any question to be determined at any meeting of a committee shall be decided by the votes of the majority of those present and voting thereon, and in case of an equality of votes the person presiding shall have a second or casting vote.

(4)A committee may invite to any of the meetings any person who can in its opinion contribute to its deliberations but such a person shall have no right to vote at the meeting.

(5)Subject to this section and the directions of the Corporation, a committee shall regulate its own procedure . 17. Delegation of powers.

(1)The Corporation may delegate to any committee, members, officer or servant of the Corporation, such of its functions as it may deem necessary or desirable.

(2)Any functions delegated under this section—

(a)may be so delegated subject to such conditions or restrictions as the Corporation may either generally or specially impose;

(b)shall be exercised by the committee, member, officer or servant concerned in the name and on behalf of the Corporation.

(3)No delegation made under this section shall preclude the Corporation itself from exercising or performing at any time any of the functions so delegated.

18. Power of Chairman to delegate.

(1)Subject to the provisions of this Enactment, the Chairman may delegate in writing to any member, officer or servant of the Corporation the power and authority to carry out on his behalf such duties, powers or functions as he may determine.

(2)The Chairman may at the time of delegating any power or authority under subsection (1) to any member, officer or servant, or at any time thereafter give directions as to the manner in which such delegated power or authority is to be exercised and may at any time revoke, modify or increase such delegation.

19. Execution of documents, etc..

(1)The common seal of the Corporation shall be in the custody of the Chairman and shall not be used except in the presence of the Chairman or Deputy Chairman and one member and such use shall be authenticated by the signatures of such persons and such authentication shall be sufficient evidence that such seal was duly and property fixed and that it is the lawful seal of the Corporation . (2)All documents, other than those required by law to be under seal, to which the Corporation is a party may be signed on behalf of the Corporation by the Chairman or any member or by any officer or servant generally or specially authorised in that behalf by the Corporation.

20. Vacancy not to invalidate acts, etc..

(1)No act or proceeding of the Corporation or any committee thereof shall be questioned on account of any vacancy among the members or on account of the appointment of any member having been defective.l

(2)Until the contrary is proved, every meeting of the Corporation or of any committee thereof shall be deemed to have been duly convened and held and all members present thereat shall be deemed to have been duly qualified.

(3)A statement in any document to the effect that any function has been delegated under this Part shall, unless the contrary is proved, be evidence that such delegation has been lawfully made.

PART IV ADMINISTRATION

21. Appointment of General Manager, officers and servants.

(1)Subject to section 22, the Corporation shall appoint a General Manager with the approval of the Minister, and such other officers and servants as may be necessary for carrying out its functions and duties under the Enactment.

(2)Whenever the General Manager is prevented by illness, absence from the State, or other like cause from performing his duties as such, or when the office of General Manager is vacant, the Corporation may appoint one of its officers to perform the duties of General Manager during such period as the General Manager is so prevented from performing his duties or the said office is vacant.

(3)Subject to the approval of the Government, the General Manager and other officers and servants of the Corporation shall be engaged on such terms and conditions as the Corporation may think fit

22. Restriction on alterations in establishment.

The Corporation shall not, without the approval of the Government, make any addition to its established posts.

23. General Manager as chief executive officer.

(1)The General Manager shall be the chief executive officer responsible to the Corporation and shall perform such duties and exercise such powers as may be determined or delegated by the Corporation

(2)Subject to the directions and control of the Corporation, all officers and servants of the Corporation shall be under the administrative control of the General Manager

24. Officer or servant not to be interested in contracts.

(1)No person shall be eligible for employment as an officer or servant of the Corporation who has, directly or indirectly, by himself or his partner, any share or interest in any contract with, for or on behalf of the Corporation.

(2)Any officer or servant of the Corporation who has or acquires any such share or interest shall be liable in the discretion of the Corporation to summary dismissal without notice.

(3)No officer or servant shall be deemed to have or acquire any such share or interest by reason only that-

(a)he is or becomes a member of an incorporated company which owns land situated in Sabah or has a contract with or executes work for the Corporation; or

(b)he has or acquires a share in any loan, issued by the Corporation or in any security for the same.

PART V FUNCTIONS OF THE CORPORATION

25. Functions of the Corporation.

The functions of the Corporation shall be—

(a)to undertake projects in fisheries and aquaculture with emphasis on development of the fishing community;

(b)to create employment and other gainful economic opportunities for the fishing community;

(c)to establish commercial projects in fisheries on its own or on joint venture basis with other public authorities, public or private companies or fishermen;

(d)to undertake the processing and marketing, including import and export, of all products from fisheries;

(e)to undertake transport services, and provide credit facilities for the fishing industry;

(f)to establish a marketing agency to undertake the marketing, including export and import, of all products from fisheries;

(g)to promote better nutrition, health services, population growth, environmental control, housing, preschool and adult education and other social programmes for the fishing community;

(h)to do all other acts and things as are necessary and expedient for the attainment of the purposes of the Corporation;

(i)to promote, aid, support, undertake; stimulate and encourage all economic and social developments of any fishermen's association established under the Fishermen's Associations Act 1971 [Act 44.] in the State or to deal in any matter related thereto; and

(j)to assist in the registration, control and supervision of any fishermen's association established under the Fishermen's Associations Act 1971 [Act 44.] in the State and to deal in any matter related thereto.

PART VI FINANCIAL PROVISIONSl

26. Fund of the Corporation.

(1)There shall be established a Fund to be known as the "Korporasi Kemajuan Perikanan dan Nelayan Sabah (Ko-Neiayan) Fund which shall consist of—

(a)such sums as may from time to time be provided by the Legislative Assembly out of the general revenues of the State of Sabah or donated by the Government of Sabah, or the Government of Malaysia or of any other State thereof or by any other institution or person for the purposes of the Corporation;

(b)such sums as may from time to time be raised by the Corporation by loan; (c)all rents and proceeds of sale, profits and income and other funds derived by the Corporation directly or directly from the property belonging to the Corporation;

(d)all monies earned by the operation of any project, scheme, enterprise or business financed from the Fund;

(e)monies earned or arising from any property, investment, mortgages, charges or debentures acquired by or vested in the Corporation; and

(f)all such other sums as may from time to time be paid to the Corporation.

(2)The Fund may be applied in defraying the following charges—

(a)the expenses and allowances of the members;

(b)the salaries, fees or remuneration of the officers, agents and servants and technical or other advisers of the Corporation;

(c)all costs, charges and expenses of and incidental to the exercise of the powers of the Corporation under this Enactment;

(d)interest on any loan raised by the Corporation;

(e)sums required for the repayment of moneys borrowed;

(f)such sums as may be deemed appropriate to set aside in respect of depreciation on the property of the Corporation;

(g)any architect, management and agency fees;

(h)grant or loan authorised by the Corporation to the State or towards any particular development project carried out by the State; and

(i)any other expenditures authorised by the Corporation and properly chargeable to revenue account.

27. General duties and powers of Corporation in financial matters.

It shall be the duty of the Corporation so to exercise and perform its functions under this Enactment so as to secure that the total revenues of the Corporation are sufficient to meet its total out-goings properly chargeable to revenue account, including depreciation and interest on capital, taking one year with another.

28. Investment of funds.

The Corporation may, from time to time, invest any of its funds, not immediately required to be expended in the meeting of the obligations or in the discharge of the functions of the Corporation, in securities authorised for the investment of trust funds by any written law for the time being in force and may place the same on deposit in any bank or banks licensed under the provisions of the Banking and Financial Institutions Act 1989 [Act 372.] or, in any undertaking as may be approved by the Minister of Finance.

29. Borrowing powers.

(1)The Corporation may, from time to time, with the approval of the Minister of Finance, borrow money by the issue of debenture stock or otherwise as the Minister of Finance may direct for the purposes of this Enactment.

(2)The Corporation may, from time to time, for the purpose of this Enactment, raise loans from the Government or with the consent of the Minister of Finance, borrow by way of a temporary loan or overdraft from a bank licensed under the provisions of the Banking and Financial Institutions Act 1989* {Act 372.], or otherwise.

30. Loans may be secured by mortgage.

The Corporation may secure the repayment of any sum borrowed, by the mortgage or charge, legal or equitable, of any property vested in the Corporation, or of any revenue receivable by the Corporation under this Enactment or any other written law.

31. Power to make loans.

(1)Subject to such conditions as the Minister may deem fit to impose in particular cases, the Corporation may, out of the Fund make loans in accordance with the provisions of this Enactment in that behalf in the execution of its functions under section 25.

(2)In making loans under the provisions of subsection (1), the Corporation may charge such rate of interest as it may deem fit in any particular case.

(3)Every loan shall be repaid to the Corporation in accordance with the terms and conditions under which such loan was made and the moneys so paid shall thereupon be taken into the accounts of the Corporation.

(4)Every mortgage to secure loan and every instrument or charge under the provisions of this Enactment shall be approved by the Corporation, and all costs, charges and expenses incurred in connection therewith shall be paid by the person to whom the loan is made.

32. Power to guarantee loans.

The Corporation may, with the written approval of the Yang di-Pertua Negeri, guarantee any loans made by any bank or financial institution to any applicant approved by the Corporation for any purpose for which the Corporation might itself have granted such loan.

33. Annual estimates.

(1)The Corporation shall before the commencement of each financial year cause to be prepared and shall adopt annual estimates of income and expenditure of the Corporation for the ensuing year.

(2)Supplementary estimates may be adopted by the Corporation at any of its meetings.

(3)A copy of all annual estimates and supplementary estimates shall, upon their adoption by the Corporation, be sent forthwith to the Minister for his approval.

(4)No expenditure shall be incurred by the Corporation which has not been included in the annual estimates or supplementary estimates adopted by the Corporation and approved by the Minister.

34. Accounts.

(1)The Corporation shall cause -

(a)proper accounts and other records in relation thereto to be kept; and

(b)an annual statement of accounts to be prepared.

(2)The annual statement of accounts of the Corporation shall present a true and fair view of the financial position of the Corporation and of the results of the operations of the Corporation for the year to which it relates.

(3)The financial year of the Corporation shall be the period commencing on the 1st day of January and ending on the 31 st day of December In each year.

35. Audit and statement of account.

(1)The accounts of the Corporation shall be audited by the Auditor-General.

(2)The Corporation shall not later than the 31st day of each year submit the accounts of the Corporation for the preceding financial year to the Auditor-General for the purpose of audit.

(3)The Corporation shall, when required by the Auditor-General, produce and lay before him all books and accounts of the Fund concerned, together with all vouchers in support thereof, and relating thereto, and the Auditor-General shall be entitled to require from the Corporation, or any member, officer, servant, or agent of the Corporation such information and explanation as he may deem necessary for the performance of his duties as an auditor.

(4)After the end of each financial year, as soon as the accounts of the Corporation have been audited, the Corporation shall cause a copy of the statement of accounts together with a copy of any report made by the Auditor-General on that statement or on the accounts of the Corporation, to be sent to the Minister who shall lay the same before the Legislative Assembly and cause a copy thereof to be published in the Gazette.

36. Annual report.

The Corporation shall, as soon as practicable after the end of each financial year, cause to be made and transmitted to the Minister a report dealing generally with the activities of the Corporation during such year, and the Minister shall cause a copy of such report to be laid before the Legislative Assembly.

37. Bank account.

(1)All moneys paid to the Corporation shall be paid into an account in such bank or banks licensed under the provisions of the Banking and Financial Institutions Act 1989* [Act 372.] as may be approved by the Corporation.

(2)All orders against the said account shall be signed by the General Manager and countersigned by another officer of the Corporation authorised in writing in that behalf by the Corporation.

38. When tenders to be called.

Tenders for the execution of any work or duty, or for any supply of any materials or for other things necessary for the purposes of the Corporation whereby the expenditure of the Corporation is involved, shall be called in such cases and in such manner as the Government may generally or in any particular case direct.

PART VII GENERAL

39. Power of Minister to give directions.

(1)The Minister may give to the Corporation directions of a general character, not inconsistent with the provisions of this Enactment, as to the exercise and performance by the Corporation of its functions, and the Corporation shall give effect to any direction so given.

(2)The Corporation shall furnish the Minister with such information with respect to its property and activities as he may from time to time require.

40. Land acquired compulsorily.

(1)Where any immovable property, not being State land, is needed for the purposes of the Corporation and cannot be acquired by agreement, the Corporation may request and the Yang di-Pertua Negeri may, if he thinks fit, direct the acquisition of such property, and in such case, such property may be acquired in accordance with the provisions of any written law relating to the acquisition of land for a public purpose and any declaration required under any such law that such land is so needed may be made notwithstanding that compensation is to be paid out of funds of the Corporation, and such declaration shall have effect as if it were a declaration that such land is needed for a public purpose made in accordance with such written law.

(2)When any land is acquired compulsorily by the Government at the request and for the purposes of the Corporation under the provisions of any written law for the time being in force relating to such acquisition—

(a)the Corporation shall indemnify the Government against all costs, charges and expenses incurred by the Government in relation to such acquisition;

(b)the Corporation shall not, without the written consent of the Minister, sell, exchange or otherwise dispose of such land or any interest therein.

41. Transfer of property to Corporation.

(1)The Yang di-Pertua Negeri may at any time by order vest any State land or movable property of the Government in the Corporation where it appears desirable to do so to enable the Corporation to carry out its duties and responsibilities.

(2)Property vested in the Corporation under this section may be so vested absolutely or subject to such terms and conditions as the Yang di-Pertua Negeri may think fit to impose.

(3)Where any land is vested in the Corporation under this section a delivery of a copy of the order concerned shall, notwithstanding any provision of any State law to the contrary, be sufficient authority to any public officer charged with the responsibility for registering dealings with land or the issue of title thereto, and any such officer shall thereupon, without payment of fee, take all necessary steps to perfect the title of the Corporation to such land.

42. Emergency powers of General Manager.

On any case of emergency, the General Manager may direct the execution of any work or the doing of any act which the Corporation is empowered to execute and do and which he is not by the provisions of this Enactment expressly empowered to execute or do and the immediate execution or doing of which is in his opinion necessary and he may direct that the expense of executing the work or doing the act shall be paid from the funds of the Corporation:

Provided that—

(a)the General Manager shall not take any step under this section in contravention of any resolution of the Corporation duly passed at a meeting; and

(b)he shall report anything done under this section to the next following meeting of the Corporation.

43. Secrecy and penalty.

(1)Except for the purposes of this Enactment or of any criminal proceedings under this Enactment, no member or officer or servant of the Corporation shall disclose any information with respect to any individual business, which has been obtained by him in the course of his duties and which is not published in pursuance of this Enactment.

(2)Any person knowingly contravening the provisions of subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding five thousand ringgit or to imprisonment for a term not exceeding one year.

44. Protection against legal proceedings.

(1)No action, suit, prosecution or other proceedings shall be brought or instituted personally against any member of the Corporation or against the officer or servant appointed by the Corporation in respect of any act done or statement made bona fide in pursuance or execution or intended execution of this Enactment.

(2)Where a person is exempted from liability by reason only of the provision of this section, the Corporation is liable to the extent that it would be if such person were a servant or agent of the Corporation.

45. Public servants

All members, officers and servants of the Corporation shall be deemed to be public servants within the meaning of the Penal Code [Act 574.].

46. Public Authorities Protection Act 1948.

The Public Authorities Protection Act 1948 [Act 198.] shall apply to any action, suit, prosecution or proceeding against the Corporation or against any member, officer, servant or agent of the Corporation in respect of any act, neglect, or default done or committed by the Corporation or such person in such capacity.

47. Persons authorised to prosecute.

Any prosecution for an offence under this Enactment may be conducted by any person employed by the Corporation or by any public officer authorised in writing in that behalf by the State Attorney-General.

48. Sanction for prosecution.

No prosecution for any offence punishable under this Enactment shall be instituted except by or with the previous sanction in writing of the State Attorney-General.

49. Sanction for prosecution.

For the purpose of any written law relating to land reserved for alienation to Natives of the State, the Corporation shall be deemed to be a Native.

50. Transfer of property, powers, rights, liabilities and duties.

Subject to the provisions of the Co-operative Societies Act 1993* [Act 502.], upon the commencement of this Enactment—

(a)all powers rights, privileges, obligations or liabilities acquired, accrued, or incurred by the Koperasi Serbaguna Neiayan Sabah Bhd. (hereinafter referred to as "the Co-operative Society") shall devolve on the Corporation;

(b)all property of whatever nature possessed by or vested in the Co-operative Society shall be deemed to be transferred to the Corporation;

(c)all deeds, bonds, agreements, instruments and working arrangements made by the Co-operative Society, subsisting immediately before the commencement of this Enactment shall be in full force and effect against or in favour of the Corporation and enforceable as fully and effectually as if, instead of the Cooperative Society, the Corporation had been named therein as a party thereto;

(d)all proceedings, whether civil or criminal, or causes of action pending or existing immediately before the commencement of this Enactment by or against the Co-operative Society may be continued or instituted by or against the Corporation; and

(e)all persons who, immediately before the commencement of this Enactment, were employed as officers or servants of the Co-operative Society shall be deemed to be transferred to the service of the Corporation upon the terms and conditions of service not less favourable to them than those upon which they were employed by the former body.