Malaysia legislation

Section 29

of *MALAYSIA EXTERNAL TRADE DEVELOPMENT CORPORATION ACT 1992

Section 29

Subject to section 30, the Fund shall be expended for—

(a)

the payment of any expenses lawfully incurred by the

Corporation, including survey and legal fees and costs and other fees and costs, the remuneration of officers and servants appointed and employed by the Corporation, including superannuation allowances, pensions or gratuities;

(b)

paying any other costs or expenditure properly incurred or accepted by the Corporation in the exercise of its powers or in the discharge of its functions;

(c)

repaying any moneys borrowed under section 14 and the interest due thereon;

(d)

granting loans under section 15;

(e)

subject to subsection 28(3), the payment of any charges on any amount which may be allotted to the Corporation from loan funds;

(f)

the making of loans to officers and servants of the

Corporation for purposes approved by the Minister; and

(g)

generally, paying any expenses for carrying into effect the provisions of this Act.

Malaysia External Trade Development Corporation 25

Balancing of revenue account

Section 29 — MALAYSIA EXTERNAL TRADE DEVELOPMENT CORPORATION ACT 1992