Malaysia legislation
Section 65
Section 65
(2)
The Fund shall consist of the annual tonnage fees collected under this Part.
(3)
The Fund shall be expended for the following purposes:
(a)
to improve the shipping industry;
(b)
to provide awards, fellowships, scholarships and research grants relating to the shipping industry;
(c)
to sponsor research projects undertaken by organizations, institutions of higher learning or individuals for the purpose of the shipping industry;
(d)
to organize seminars, expositions and other similar activities relating to the shipping industry;
(e)
to pay any other expenses properly incurred by the Committee in the execution of its functions under this Part.
(4)
All costs, charges and expenses of administering the Fund shall be chargeable to the Fund and may be paid out of the Fund from time to time.
Merchant Shipping (Amendment)
(5)
The moneys of the Fund, in so far as they are not immediately required to be expended by the
Committee under this Part, shall be invested in such manner as the Minister may, with the concurrence of the Minister of Finance, approve.
Establishment of the
Committee.