Section 10
of Sabah Foundation Enactment 1966
Section 10
(1)
The Board shall, in addition to any other powers conferred by this Enactment, have power: -
(a)
to acquire, take, hold and enjoy, whether as owner or by way of security, and may sell, convey, transfer, assign, re-convey, re-assign, surrender or
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otherwise deal with or dispose of movable and immovable property of every description;
(b)
to enter into or modify any contracts or agreements which may be necessary for carrying out the objects of the Foundation;
(c)
subject to the provision of any written law relating to public collections, from time to time to raise public subscriptions or make public collections for the Fund;
(cc)
to apply for and acquire timber concessions and work the same either directly or through contracting out and to carry on other business which may seem to the Board capable of being conveniently carried on in connection with the above or calculated directly or indirectly to enhance the value or render profitable any of the Board's property or rights;
(d)
generally to do all such things as a body corporate may by law perform and which are necessary for carrying out the objects of the Foundation;
(e)
to carry on all activities, particularly the development of commercial and industrial enterprises, the carrying on whereof appears to it to be requisite, advantageous or convenient for or in connection with the discharge of its duty, including the manufacturing, assembling, processing, packing, grading and marketing of products, research and training;
(f)
to promote the carrying on of any such activities bodies or persons and for that purpose to establish or expand or promote the establishment or expansion of other bodies to carry on any such activities either under the control or partial control of the Board, or independently, and to give assistance to such bodies or to other bodies or persons appearing to the
Board to have facilities for the carrying on any such activities, including financial assistance by taking up of share or loan capital or by loan or otherwise;
(g)
to purchase, underwrite or otherwise acquire any stock and shares in any public or private company, and to dispose of the same on such terms and
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conditions as the Board may determine;
(h)
to establish and maintain training institutions;
(i)
to do all acts which the Board considers desirable or expedient;
(j)
to borrow from time to time at such rate of interest and for such period and upon such terms as to the time and method of repayment and otherwise as the Board may approve any sums required by the
Foundation for meeting any of its obligations or discharging any of its duties;
(k)
to enter into any transaction (whether or not involving expenditure, borrowing, granting of loans or investment of money in accordance with the provisions of this Enactment in that behalf, the acquisition, use and disposal of any movable or immovable property, including vehicles and vessels, or rights) which in the opinion of the Board is calculated to facilitate the proper discharge of its duty or is incidental or conducive thereto;
(l)
to become agent or to employ and pay agents and technical advisers including advocates, bankers, stockbrokers, surveyors, or valuers or other persons, to transact any business or to do any act required to be transacted or done in the execution of its duties or for the better carrying into effect the purposes of this Enactment;
(m)
to establish from time to time a corporation by such name as the Board may think fit to carry out and have the charge, conduct and management of any project, scheme or enterprise which has been planned or undertaken by the Board in execution of its duty or discharge of its functions in pursuit of the objects of the Foundation;
(n)
to make loans and any such loans may be granted subject to such terms and conditions as the Board may deem fit to impose in particular cases:
(o)
to carry on the business of carriers by air, sea, river, canal, railway, road and otherwise;
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(p)
to establish institutions of learning and to maintain them.
(2)
The Board may delegate any of the powers and duties conferred or imposed upon it by any of the provisions of this Enactment to any sub-committee consisting of such person or persons appointed by the Board and the Director shall be entitled to attend the meetings of any such sub-committee and to speak, but not to vote, on any matter under discussion:
Provided that any such delegation shall be exercised by the sub-committee concerned subject to any general or special directions which may from time to time be given by the
Board.
Appointment, etc., of Director and staff.