Penang Port Commission Act 1955 · Updated to 1 Jan 2006 · Part IV · Financial Provisions
41. Chairman to submit annual estimate of revenue and expenditure
Feedback & supportThe Chairman shall, not later than one month before the commencement of each financial year, lay before the Commission an estimate of the Commission’s revenue and expenditure including capital expenditure for the ensuing year in such detail and form as the Commission may require:
Chairman
“Chairman” means the Chairman of the Commission appointed under paragraph 5(1)(a);
Provided that it shall not be necessary to include in the estimate any specific item of capital expenditure which has previously been sanctioned under section 42 and not disallowed under subsection 43(1) or which has been submitted in accordance with section 44, and which has remained or is likely to remain unexpended at the end of the current financial year.
A copy of the estimate shall be sent to each member of the
Commission not less than fourteen days prior to the meeting before which the estimate is to be laid.
Commission
“Commission” means the Penang Port Commission established and incorporated under this Act;