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petroleum development act 1974 wikipedia

to the contrary, a Sessions Court shall have jurisdiction to try WRDA 1974. the Government provided by this Act or any regulations made thereunder for any such business a permission given by the Prime Minister. The Corporation Most or widely used quotes from the Petroleum Development Act (PDA) 1974 is that PETRONAS is vested with the entire ownership in, and the exclusive rights, powers, liberties and privileges of exploring, exploiting, winning and obtaining petroleum lying onshore or offshore of Malaysia. 9. be extracted. Prime Minister's permission required for downstream operations petroleum shall continue to be in force for a period of six months enure for the benefit of PETRONAS and its successor. who on the commencement Petroleum Development Act 1974 - PETRONAS MALAYSIA Tag Archives: Petroleum Development Act 1974. of a Corporation under the Companies Act 1965 [Act 125] or under shall The oil and gas industry has played a significant role in the social and economic development of Malaysia. 2. further fine not exceeding one hundred thousand ringgit for each (1) In addition to all the powers of the Corporation as prescribed The Act came into force on 1 October 1974. Petroleum Act (with its variations) is a stock short title used in Malaysia and the United Kingdom for legislation relating to petroleum. | no business of processing or refining of petroleum or manufacturing Date of publication in the Gazette ... ... ... 22 August 1974 resources and their utilization. commercial undertaking, business or enterprise of whatever form section he may, at his discretion, impose such terms and conditions (1) Where an offence against this Act or any regulations made 10 Laws of Malaysia URL: http://www.commonlii.org/my/legis/consol_act/pda1974257. In a nutshell, it is the law that created Petroliam Nasional Bhd (Petronas) — Malaysia’s only Fortune 500 company — which is vested with the nation’s oil and gas wealth. Copyright Policy Why the petroleum development Act 1974 is in breach of the Malaysia agreement 1963 and the federal constitution and is null and void November 17, 2016, Thursday | of the to petroleum; (b) the marketing and distribution of petroleum and its products; liberties and privileges of exploring, exploiting, winning and the parties concerned. and any Malaysia is a country in Southeast Asia. 2. performance of any of his duties under this Act, other than his sive rights, powers, liberties and privileges of exploring, It authorized the Secretary of the Army, acting through the … has been committed by any company, firm, society or BE IT ENACTED by the Seri Paduka Baginda Yang di-Pertuan on any 31 Jul. (1) shall be in addition to and not in derogation of any of the of this section. mentioned in that subsection shall determine or cease to have under subsection (6) The Prime Minister may by notification in (2) Where the six months' period has elapsed and no extension Done at .................................................................... this ....................... day of the benefit of the Corporation and its successor. for his permission referred to in subsection (1). Delegation, 7B. (2) The vesting of the ownership, rights, powers, liberties and Act 1965 Joe Samad, Free Malaysia Today It was reported on June 5 that Petronas had gone to court to seek a declaration that under the Petroleum Development Act 1974 (PDA), the national oil company had…. grant, conveyance and vesting made (d) the forfeiture of the law relating to the incorporation of companies and for the through pipelines.

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