I had earlier written about the Bill relating to Malaysia Airlines. As an update, the Bill has received Royal Assent on 30 December 2014 and Gazetted on 5 January 2015.
It is now known as the Malaysian Airline System Berhad (Administration) Act 2015. However, the Act will only come into operation on a date to be appointed by the Prime Minister by notification in the Gazette.
One particular significant change between the Act and the Bill has been the removal of certain powers of the Administrator. The Act has removed the provisions which originally allowed the Administrator to assume control over the property and business of a transition service provider and to carry on that business, if that transition service provider refused to provide such goods and services to the new MAB.
Such very wide powers have been dialed down such that if the transition service provider refuses, the new MAB and its subsidiary companies shall only have the right to recover any costs incurred or damage suffered.