Section 42
Expenditure to be charged on Fund
of Carbon Capture, Utilization and Storage Act 2025
The Fund shall be expended only for the purpose of covering costs to be borne by the Government for long-term stewardship of offshore storage sites after the transfer of obligations pursuant to section 32 or 40, as the case may be, has occurred, including—
(a)
fulfilling any obligations assumed by the Government pursuant to the transfer of obligations under section 32
or 40;
(b)
long-term monitoring of the carbon dioxide stored within a storage site to ensure that the carbon dioxide is safely and permanently stored; and
(c)
carrying out any corrective measures or remediation measures.
(2)
Notwithstanding subsection (1), all monies earned from investments financed from the Fund referred to in paragraph 41(2)(c)
may also be expended for the purpose of promoting the development of the carbon capture, utilization and storage industry in Malaysia generally.
Carbon Capture, Utilization and Storage 29