Labuan Financial Services Authority Act 1996 · s 30

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s 30

The Fund shall be expended for the purpose of—

50 Laws of Malaysia ACT 545

(a)

paying any expenditure lawfully incurred by the

Authority, including legal fees and costs and other fees and costs, and the remuneration of officers and servants of the

Authority, including the granting of loans, superannuation allowances or gratuities;

(b)

paying any other expenses, costs or expenditure properly incurred or accepted by the Authority in the performance of its functions or the exercise of its powers under this

Act;

(c)

purchasing or hiring equipment, machinery and any other materials, acquiring land and erecting buildings, and carrying out any other works and undertakings in the performance of its functions or the exercise of its powers under this Act;

(d)

repaying any moneys borrowed under this Act and the interest due thereon; and

(e)

generally, paying any expenses for carrying into effect the provisions of this Act.