Iskandar Regional Development Authority Act 2007 · s 37

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s 37Social Projects Fund

(1)

The Authority shall establish and manage a fund to be known as the “Social Projects Fund”.

(2)

The Social Projects Fund shall consist of—

(a)

such sums as may be contributed or donated from time to time for the purposes of the Social Projects Fund by any person, corporation or other entity; and

(b)

sums borrowed by the Authority for the purposes of the

Social Projects Fund.

(3)

The Social Projects Fund shall be expended for projects, schemes and undertakings which, in the opinion of the

Authority, are for the general benefit of the Iskandar Development

Region community and consistent with the strategies and initiatives in the Comprehensive Development Plan relating to social development, and which may, for the avoidance of doubt, include projects, schemes and undertakings for the promotion of art and culture.