The old committee members, headed by former Home Minister Tan Sri Syed Hamid Albar, will bow out when the AGM endorses the new young line-up.

The changing of guards had affected all youth association in the country in 2007 when registrations of youth associations fell under the Youth and Sports Ministry, no longer under the Registrar of Societies.

The youth associations have two years until next month to re-register under the Registrar of Youth (ROY) but MAYC had applied to have its registration delayed until February to allow for the smooth change to take place.

MAYC held a meeting between the old outgoing committee members and the young incoming committee members today (Saturday).

At the meeting, the outgoing leaders - headed by Syed Hamid - had briefed the incoming young leaders, headed by Wanita Umno exco member Suraya Yaacob, on the association's current situation.

Explaining MAYC's financial and social position, Syed Hamid said MAYC had assets and debts that had to be settled.

"Our assets are the Wisma Belia at Jalan Syed Putra, two shoplots in Taman Shamelin, Cheras and two companies. Wisma Belia is still in debt amounting to RM9 million and our income is insufficient to cover this.

"We hope the government would aid us in this matter, the same way it had done for associations like Koperasi Belia Negara (Kobena) and the 4B associations," he said.

On the new leaders taking over, Syed Hamid said all of them had been trained and exposed to youth management and administration.

"I do not see any problem and am happy to see young people leading the youth," he said.

Meanwhile, incoming protem president Suraya said she was happy with Syed Hamid’s leadership, whose style she considered "transparent and open."

"The meeting gave us insight into the association's operations, assets and liabilities.

"From now till February, the protem committee will have some time to view everything first-hand. At the same time, we also will get the clubs associated with us in all states to begin their AGMs," she said.

Suraya said the February AGM would endorse the protem committee which would lead the association.

Suraya, who has been an MAYC member for more than 15 years, is also the state assemblyman for Sungai Tiang, Pendang, Kedah.