Section 39 — AKTA LEMBAGA LETRIK SABAH 1983

(a)

such sums as may from time to time be provided by Parliament to the Board or donated by the Government of Sabah or of any other State or by any other institution or person for the purposes of the Board;

(b)

such sums as may from time to time be raised by the Board by loan;

(c)

such sums as may be collected as tariffs under the provisions of this Act or any other written law;

(d)

all rent and proceeds of sale profits and income and other funds derived by the Board directly or indirectly from the property belonging to the Board;

(e)

all fees and such other sums as may from time to time be paid to the Board.

(2)

The Fund of the Board for any financial year shall be applied in defraying the following charges—

(a)

the remuneration, fees and allowances of the members of the Board;

(b)

the salaries, fees, remuneration, allowances, pensions, superannuation allowances and any gratuities due under any contract, of the officers, agents and servants and technical or other advisers of the Board;

be raised ffs under r written d income d directly ing to the rom time

(c)

working and establishment expenses and expenditure on, or provision for the maintenance of any of the installations of the Board, and the discharge of the functions of the Board properly chargeable to revenue account;

(d)

interest on any debentures and debenture stock issued, and on any loan raised by the Board;

(e)

sums required to be transferred to a sinking fund or otherwise set aside for the purpose of making provision for the redemption of debentures or debenture stock or the repayment of other borrowed moneys;

(f)

such sums as it may be deemed appropriate to set aside in respect of depreciation on the property of the Board having regard to the amount set aside out of revenue under paragraph (e) of this subsection; and

(g)

any other expenditure authorized by the Board and properly chargeable to revenue account.

(3)

The balance of the revenue of the Board shall be applied—

(a)

to the creation of a general reserve; and

(b)

to the payment of such interest on shares and stock issued by the Board as the state of the undertakings and the financial position of the Board appear, in the opinion of the Board, to warrant, but so that, in the case of ordinary shares or stock, the rate of interest shall not exceed an average rate, taking one year with another, of six per centum per annum of the nominal value thereof.