Malaysia legislation
Section 24
Section 24
The Fund shall be expended for the purpose of—
(a)
paying any expenditure lawfully incurred by the Board, including—
(i)
the remuneration of the officers and servants of the Board, including the granting of loans, superannuation allowances, pensions or gratuities;
(ii)
insurance coverage for the officers and servants of the Board;
(iii)
costs incurred in providing for the welfare of the officers and servants of the Board; and
(iv)
legal fees and costs and any other fees and costs;
(b)
financing research and development activities;
(c)
contributing to bodies or organizations of which the Board is a member;
(d)
contributing to such organizations related to the pepper industry as the Minister may determine;
(e)
providing financial assistance to the pepper farmers with the approval of the Minister;
Malaysian Pepper Board 23
(f)
financing such scholarships for higher education as may be approved by the Board;
(g)
providing loans or grants to institutions of higher learning within or outside Malaysia for the purpose of human resource development in the pepper industry;
(h)
granting loans or providing capital for corporations established under this Act;
(i)
paying any other expenses, costs or expenditure properly incurred or accepted by the Board in the performance of its functions or the exercise of its powers under this
Act;
(j)
subject to the approval of the Minister, making contributions to any organization, whether within or outside Malaysia, for the purpose of promoting the marketing of pepper products;
(k)
purchasing or hiring equipment, machinery and any other materials, acquiring land 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;
(l)
repaying any moneys borrowed under this Act and the interest due on such moneys;
(m)
paying any reward under section 68; and
(n)
generally, paying any expenses for carrying into effect the provisions of this Act.
Conservation of Fund