Malaysia legislation

Section 14

of PERBADANAN LABUAN ACT 2001

Section 14

The Fund shall be expended for the purpose of—

(a)

granting loans under section 23;

(b)

paying any expenditure lawfully incurred by the Perbadanan, including survey and legal fees and costs and other fees and costs, and the remuneration of officers and servants of the Perbadanan, including the granting of loans, superannuation allowances, pensions or gratuities;

16

Act 609

(c)

paying any other expenses, costs or expenditure properly incurred or accepted by the Perbadanan in the performance of its functions or the exercise of its powers under this

Act;

(d)

purchasing or hiring plant, equipment, machinery and materials, acquiring land and other assets, and erecting buildings, and carrying out any other works and undertakings in the performance of its functions or the exercise of its powers under this Act;

(e)

repaying any moneys borrowed under this Act and the interest due thereon; and

(f)

generally, paying any expenses for carrying into effect the provisions of this Act.

Conservation of the Fund