Malaysia legislation
Section 9
of CO-OPERATIVE COLLEGE (INCORPORATION) (AMENDMENT) ACT 2011
Section 9
The principal Act is amended by inserting after section 8 the following section:
“Gifts 8a. (1) The Board may, on behalf of the College, accept by way of grant, gift, testamentary disposition, subvention, legacy or otherwise, any property and money in aid of finances of the College on such conditions as the Board may determine.
(2)
Any property or money accepted by the College under subsection (1) shall, subject to the terms and conditions on which the property or money is given and accepted, be applied by the Board for all or any of the purposes of the
College in accordance with this Act.
(3)
A register shall be kept of all properties and moneys accepted by the Board under subsection (1), including the names of the donors and any special conditions on which the properties and moneys may have been given.
(4)
All properties and moneys given and accepted for any specific purposes shall be applied and administered in accordance with the purposes for which the properties and moneys may be given and accepted and shall be separately accounted for.”.
Amendment of section 10