Section 6J
Commercial Accounts
Notwithstanding the relevant provision of the Financial Procedure
Act 1957 and any regulations made and instructions issued under it, the books and accounts of the civil aviation authority shall be kept in accordance with generally accepted commercial accounting principles and practices.
(2)
All the assets and liabilities of the civil aviation authority as on 1
January of the year of the appointed date which are not reflected in the financial accounts of the Federation shall be incorporated into the commercial accounts and the net worth of it shall be treated as capital of the
Federation invested in the civil aviation authority on that date.
(3)
The Director General with the concurrence of the Treasury shall issue directions and instructions as to the manner in which the books and accounts shall be kept and the form in which statements of accounts shall be submitted for audit.
26 Laws of Malaysia ACT 3