Section 13
Finances and accounts of Authority
of Bintulu Port Authority Act 1981
The Authority shall keep proper and regular accounts and other records of moneys received and paid by the Authority and the several purposes for which such moneys have been received or paid, and of its assets, credits and liabilities.
(2)
The revenues of the Authority for any financial year shall be applied in defraying the following charges for that year:
(a)
working and establishment expenses;
(b)
the maintenance, depreciation and renewal of the property, and the discharge of the functions, of the Authority properly chargeable to revenue;
(c)
interests on loans and repayments of moneys borrowed;
and
(d)
such capital expenditure as the Authority may determine to charge to the revenues.
(3)
The amount remaining of the revenues of the Authority for any financial year, after defraying the charges referred to in subsection (2), shall be applied in making good any deficiencies in the revenue carried forward from previous years, and the whole or any part of the balance, if any, may as soon as may be after the end of that year be carried to such reserves approved by the Authority as the
Authority thinks fit.
(4)
Moneys standing to the credit of reserves may be employed in the undertakings of the Authority.
22 Laws of Malaysia ACT 243
(5)
The Authority may open and maintain a current account with a bank approved by the Minister of Finance.