Malaysia legislation
Section 22
of Land Custody and Development Authority Ordinance, 1981 ( Ord. No. 4/81 )
Section 22
⎯(1)
The Authority shall keep proper accounts and other records in respect of its operation and shall prepare a statement of accounts in respect of each financial year of the Authority.
(2)
The form of the accounts and of the statement shall be such as to cause the provision of separate information as respect each of the main activities or functions of the Authority. Accounts of moneys for each project or enterprise shall be kept separate and apart.
(3)
The accounting records of the Authority shall distinguish between capital and revenue transactions.
(4)
Moneys received by way of loans shall be shown separately in the books and accounts and in the balance sheet of the
Authority.
(5)
The accounts of the Authority shall be audited annually by the Auditor General or any person authorized by him in that behalf.
[Am. Ord. No. 9/85.]
(6)
After the end of such financial year, and as soon as the accounts of the Authority have been audited, the Authority shall cause a copy of the statement of accounts to be transmitted to the Minister together with a copy of any observations made by the Auditor General or other auditor appointed under subsection (5) on any statement or on the accounts of the Authority.
(7)
The Minister shall cause a copy of every such statement and observation to be laid before the Dewan Undangan Negeri.
Reserve fund