Malaysia legislation
Section 26
Section 26
(1)
There shall be established a Fund to be known as the “Sabah Sports Fund”
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which shall consist of—
(a)
such sums as may from time to time be provided by the Legislative
Assembly out of the general revenues of the State of Sabah or donated by the Government of Sabah, or the Government of Malaysia or of any other institution or person for the purposes of the Board;
(b)
such sums as may from time to time be raised by the Board by loan;
(c)
all rents and proceeds of sale profits and income and other funds derived by the Board directly or indirectly from the property belonging to the
Board;
(d)
monies earned by the operation of any project, scheme or enterprise financed from the Fund and any fees received by the Board by virtue of section 25;
(e)
monies earned or arising from any property, investments, mortgages, charges or debentures acquired by or vested in the Board;
(f)
any property, investments, mortgages, charges or debentures acquired by or vested in the Board;
(g)
all such other sums as may from time to time be paid to the Board.
(2)
The Fund may be applied in defraying the following charges—
(a)
the expenses and allowances of the members;
(b)
the salaries, fees or remuneration of the officers, agents and servants and technical or other advisers of the Board;
(c)
all costs, charges and expenses of and incidental to the exercise of the powers of the Board under this Enactment;
(d)
interest on any loan raised by the Board;
(e)
sums required for the repayment of moneys borrowed;
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(f)
such sums as it may be deemed appropriate to set aside in respect of depreciation on the property of the Board;
(g)
any architect, management and agency fees;
(h)
grant or loan authorised by the Board to the State or towards any particular development project carried out by the State;
(i)
any other expenditure authorised by the Board and properly chargeable to revenue account.
Investment of funds.