Malaysia legislation
Section 9
Section 9
Fund and finance
(a)
into which shall be paid—
(i)
such sums as may be provided from time to time by
Parliament;
(ii)
such sums as may from time to time be borrowed by the Authority for the purpose of meeting any of its obligations or discharging any of its duties;
(iii)
all monies earned by the operation of any project, scheme or enterprise financed from the Fund;
(iv)
all monies earned or arising from any property, investment, mortgages, charges or debentures acquired by or vested in the Authority;
Federal Agricultural Marketing Authority 17
(v)
all other sums or property which may in any manner become payable or vested in the Authority in respect of any matter incidental to its powers and duties;
(vi)
all monies earned from technical, advisory or consultancy services or any other services provided by the Authority; and
(vii)
all monies collected by the Authority under the regulations made under this Act; and
(b)
out of which shall be defrayed—
(i)
all expenditure (including capital expenditure)
incurred by the Authority in carrying out its functions;
(ii)
monies for the repayment of any loan made to the
Authority pursuant to its power to borrow; and
(iii)
monies for financing any marketing scheme.
(1A)
The provisions of subparagraph (1)(a)(v) shall not apply where any corporation which has been established under paragraph 3(3)(a) is registered as a company pursuant to subsection 3(3A).
(2)
Before the beginning of June of each year the Authority shall submit to the Minister an estimate of the expenses (including those for development projects) for the following year in such form and with such particulars as the Minister may require; and the Minister shall before the beginning of November notify the Authority of the amount authorized for expenses generally or of the amounts authorized for each description of expenditure for the following year.
(3)
The Authority may at any time submit to the Minister a supplementary estimate for any one year and the Minister may allow the whole or any part of the additional expenditure included therein.
18
Accounts and audit