Section 17
Liquidation
of Tun Razak Foundation Act 1976
If at any time the moneys or other assets of the Foundation are in the opinion of the Board insufficient to meet the expenses of the Foundation and other payments the Chairman of the Board shall forthwith make a report of that fact to the Minister.
(2)
If on receipt of such report the Minister considers that an appeal for grants, donations, endowments or gifts should be made he shall forthwith direct the Board to make such appeals and the
Board shall accordingly comply with such direction.
(3)
If after the expiration of one year from the date any appeal is made under subsection (2) no adequate grants, donations, endowments or gifts are received by the Board, the Minister shall direct that the Foundation be liquidated; and proceedings for liquidation shall commence according to the regulations made under this Act.