Malaysians must understand that it is a legal duty of the federal government to pay the states the money due to them as laid down in the Acts of Parliament and the various agreements signed since 1957. What the federal government is doing is unconstitutional and a violation of all these agreements.THE CORRIDORS OF POWER
Raja Petra Kamarudin
LAWS OF MALAYSIA
ACT 144
PETROLEUM DEVELOPMENT ACT 1974
Incorporating latest amendment - Act A842/1993
Date of Royal Assent: 30th July 1974
Date of publication in the Gazette: 22nd August 1974
Date of coming into operation: 1st October 1974, [P.U. (B) 501/74]
Long Title & Preamble
An Act to provide for exploration and exploitation of petroleum whether onshore or offshore by a Corporation in which will be vested the entire ownership in and the exclusive rights, powers, liberties and privileges in respect of the said petroleum, and to control the carrying on of downstream activities and development relating to petroleum and its products; to provide for the establishment of a Corporation under the Companies Act 1965 or under the law relating to the incorporation of companies and for the powers of that Corporation; and to provide for matters connected therewith or incidental thereto.
Section 4. Cash payment by the Corporation
In return for the ownership and the rights, powers, liberties and privileges vested in it by virtue of this Act, the Corporation shall make to the Government of the Federation and the Government of any relevant State such cash payment as may be agreed between the parties concerned.
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