Malaysia legislation
Section 7
Section 7
Establishment of Land Development Fund
(a)
such capital sums as may be provided from time to time for the purposes of the Authority by the Dewan Rakyat;
(b)
such capital sums as may be allocated from time to time to the Authority from loan funds;
(c)
sums borrowed by the Authority for the purpose of meeting any of its obligations or discharging any of its duties;
(d)
any property, investments, mortgages, charges or debentures acquired by or vested in the Authority; and
(e)
all other capital assets which may in any manner become payable to or vested in the Authority in respect of any matter incidental to its powers and duties.
(2)
The charges on any amount which may be allocated to the
Authority from loan funds shall be met by the Authority:
Provided that all or any part of such charges may be met from the general revenues of Malaysia with the approval by resolution of the Dewan Rakyat.
(3)
In this section the expression “loan funds” means such sums as may be made available from time to time to the Government by way of loan.
Land Development 13
Financial Provisions
Duty to conserve Fund