Malaysia legislation
Section 8
of CO-OPERATIVE COLLEGE (INCORPORATION) (AMENDMENT) ACT 2011
Section 8
New sections 7a and 7b
The principal Act is amended by inserting after section 7 the following sections:
“Reserve Fund 7a. (1) The College may establish and manage a Reserve
Fund.
(2)
Subject to subsection (3), the payment into and out of the Reserve Fund shall be determined by the Board.
(3)
The Reserve Fund shall not be applied otherwise than for the purposes of the College.
Contributory Provident Fund 7b. The College may, with the approval of the Minister and the concurrence of the Treasury, establish and manage a Contributory Provident Fund for the Director General appointed under section 4l and officers and staff appointed under section 4m.”.
New section 8a