Section 50
Reserve Fund
of Perbadanan Tabung Pendidikan Tinggi Nasional Act 1997
ActIn forceProvision 55 of 64
Section 50
(1)
The Perbadanan shall establish and manage a Reserve Fund within the Fund.
(2)
The Perbadanan may transfer assets into or from the Reserve
Fund from time to time.
(3)
The transfers into the Reserve Fund shall be determined by the Perbadanan and the transfers out of the Reserve Fund shall be determined by the Minister.
(4)
Notwithstanding subsection (3), the amount of moneys to be transferred into the Reserve Fund in relation to the deposits under section 11 shall be such percentage of the deposits received as may be determined by the Minister.