Section 18
of Lembaga Kemajuan Wilayah Pulau Pinang Act 1983
Section 18
For the purposes of this Act there is hereby established a fund
(referred to in this Act as “the Fund”) to be administered and controlled by the Lembaga.
24 Laws of Malaysia
(2)
The Fund shall consist of—
(a)
such sums as may be provided from time to time for those purposes by Parliament or the Legislative Assembly of the State;
(b)
such sums as may be paid from time to time to the
Lembaga from loans;
(c)
moneys earned by the operation of any project, scheme or enterprise financed from the Fund;
(d)
moneys earned or arising from any property, investments, mortgages, charges or debentures acquired by or vested in the Lembaga;
(e)
any property, investments, mortgages, charges or debentures acquired by or vested in the Lembaga;
(f)
sums borrowed by the Lembaga for the purposes of meeting any of its obligations or discharging any of its duties; and
(g)
all other sums or property which may in any manner become payable to or vested in the Lembaga in respect of any matter incidental to its powers and duties.
(3)
In this section, the expression “loans” means such sums as may be made available from time to time to the Government of the
Federation or of the State by way of loan.