Malaysian Palm Oil Board Act, 1998 (No. 582)

The present law has been enacted to establish the Malaysian Palm Oil Board, a body corporate whose objectives mainly are: (a) to promote and develop the palm oil industry of Malaysia; and (b) to develop national objectives, policies and priorities for the orderly development and administration of the palm oil industry of Malaysia. The Act is structured as follows: (I) Preliminary; (II) Establishment of the Board; (III) Director-General, Officers and Servants of the Board; (IV) Finance; (V) Other powers and functions of the Board; (VI) Enforcement; (VII) General; (VIII) Repeal, savings and transitional. Furthermore, two schedules are attached.
To achieve the above-mentioned purposes, the Board shall exercise the functions specified by section 4, which cover inter alia: (1) implementation of policies and developmental programmes to ensure the viability of the oil palm industry of Malaysia; (2) carrying out research and development activities in connection with the planting, production, harvesting, extraction, processing, storage, transportation, use, consumption and marketing of palm oil and palm oil products; (3) providing with technical, advisory and consultancy service in the palm oil industry; (4) development and maintenance of markets for palm oil products. With a view to financing all these activities, section 32 has established the Malaysian Palm Oil Board Fund, to be administered and controlled by the Board.