Malaysia legislation

Section 20

of *FINANCIAL REPORTING ACT 1997

Section 20

The Fund shall be expended for the purpose of—

(a)

paying any expenditure lawfully incurred by the

Foundation or the Board including fees and costs, legal or otherwise, and the remuneration of officers and servants employed by the Foundation, including the granting of loans, superannuation allowances or gratuities;

(b)

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

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Laws of Malaysia ACT 558

(c)

purchasing or hiring equipment, machinery and any other materials, acquiring land and erecting buildings and carrying out any other works and undertakings of the

Foundation or the Board in the performance of its functions or the exercise of its powers under this Act;

(d)

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

Foundation’s financial year