Malaysia legislation
Section 22
Section 22
(a)
all monies collected by way of levy under sections 14
and 15;
(b)
all monies recoverable from loans and grants granted under this Act;
(c)
all monies earned or arising from any property, investments, charges, interest on levy or debentures acquired by or vested in the Corporation;
Pembangunan Sumber Manusia Berhad 21
(d)
any gift, donation, contribution or any other sums received by the Corporation from any source; and
(e)
all other monies lawfully recovered by the Corporation under this Act.
(2)
The Fund shall be expended for the purpose of—
(a)
promoting, developing and upgrading the skills of employees, apprentices and trainees including providing, establishing, expanding, upgrading or maintaining training facilities;
(b)
providing financial assistance to employers by way of grant, loan or otherwise for the purposes mentioned in paragraph (a), including defraying or subsidizing the costs incurred by any employer in the training or retraining of his employees, apprentices and trainees;
(c)
carrying out, subject to such terms and conditions as may be approved by the Minister, activities or projects to train or retrain retrenched persons or persons to be retrenched;
(d)
paying any expenses lawfully incurred by the Corporation including any fees and costs, the remuneration of officers and servants employed by the Corporation, and allowances payable to any members of the Board or the Investment
Panel or any committee established under this Act;
(e)
providing financial assistance by way of loan or grant to any training provider or employers’ associations as specified under subsections 20(7) and (8) respectively;
and
(f)
generally paying any expenses for carrying into effect the provisions of this Act and in connection with the administration of the Fund.
Corporation to be Trustee of Fund