Penang Port Commission Act 1955 · Updated to 1 Jan 2006 · Part II
22. Power of Commission to enter into contracts involving capital expenditure
Feedback & supportThe Commission may sanction permanent new works and enter into other contracts involving capital expenditure.
Commission
“Commission” means the Penang Port Commission established and incorporated under this Act;
No such work shall be commenced or contract entered into—
if the sum estimated to be required on the new work, or in respect of the contract, exceeds two hundred and fifty thousand ringgit, until a plan and estimate thereof have been submitted to, and approved by, the Commission;
and
if the sum estimated to be required on the new work or in respect of the contract, exceeds five million ringgit, until a plan and estimate thereof have been submitted to, and approved by, the Minister.
All contracts involving capital expenditure estimated to exceed two hundred and fifty thousand ringgit, shall be reduced into writing, and shall not be binding on the Commission unless sealed with the common seal of the Commission.