11. Substitution of section 24

The principal Act is amended by substituting for section 24

the following section:

s 24“Delegation of Lembaga’s functions and powers

(1)

The Lembaga may, subject to such conditions, limitations or restrictions as it deems fit to impose, delegate any of its functions and powers, except the power to borrow money, to grant loans, to invest, to make regulations, or powers as stipulated under paragraph 4(2)(c) to–

(a)

any member of the Lembaga;

(b)

any committee established by the Lembaga; or

(c)

any officer or servant of the Lembaga, and any function or power so delegated may be performed, exercised or discharged by the member, committee, officer or servant, as the case may be, in the name and on behalf of the Lembaga.

(2)

A delegation under this section shall not preclude the

Lembaga itself from performing or exercising at any time any of the delegated functions and powers.”.

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