Malaysia legislation

Section 15

of *PERBADANAN KEMAJUAN KRAFTANGAN MALAYSIA ACT 1979

Section 15

(2)

The Fund shall consist of—

(a)

moneys belonging to the Perbadanan immediately before the commencement of this Act;

(b)

moneys provided from time to time for the purposes of the

Fund by Parliament;

(c)

moneys earned from the operation of any project, scheme, or enterprise financed from the Fund;

(d)

moneys earned or arising from any property, investment, mortgage, charge, or debenture acquired by or vested in the Perbadanan;

(e)

all property, investments, mortgages, charges, and debentures acquired by or vested in the Perbadanan;

(f)

moneys borrowed by the Perbadanan under section 16;

and

(g)

all other moneys and property which may in any manner become payable to or vested in the Perbadanan in respect of any matter incidental to its duties and powers.

(3)

The Fund may be expended for the purposes of—

(a)

paying the expenses properly incurred by the Perbadanan in carrying out its functions under this Act, including the remuneration, superannuation allowances, pensions, and

16 Laws of Malaysia ACT 222

gratuities of the officers and servants of the Perbadanan;

and

(b)

making loans to or providing capital for—

(i)

any subsidiary corporation established or to be established under section 9; or

(ii)

any company established or taken over by the

Perbadanan under section 9.

Power to borrow

Read in full context — *PERBADANAN KEMAJUAN KRAFTANGAN MALAYSIA ACT 1979 →