Section 18
Power to delegate
of Malaysia External Trade Development Corporation Act 1992
(1)
The Corporation may, subject to such terms and conditions, limitations or restrictions, as it thinks fit to impose, delegate to any committee, or to the Chairman, or to the Chief
Executive Officer, or to any other person, the power and authority to exercise or perform on its behalf such powers or functions vested in or imposed on the Corporation under this Act as the Corporation may
Malaysia External Trade Development Corporation 17
determine, except the power to borrow money or make regulations;
and any power or function so delegated may be exercised or performed by such committee, or the Chairman, or the Chief
Executive Officer, or any other person, as the case may be, in the name and on behalf of the Corporation.
(2)
Without prejudice to the generality of subsection (1) and to the other provisions of this Act, the Corporation may delegate to either the Chairman or to the Chief Executive Officer authority to sanction expenditure from the Fund or any other moneys vested in or under the control of the Corporation up to such limit as the
Corporation shall specify.