Section 16
Fund of the Council
of Sarawak Arts Council Ordinance, 2008
—
There shall be established a fund to be known as the
Sarawak Arts Council Fund (in this Part called “the Fund”) which shall be under the control of the Council and shall be managed and maintained in accordance with the provisions of this Part.
(2)
There shall be paid into the Fund the following:
(a)
any grant provided or loans and advances made to the
Council by the Government of Malaysia or of Sarawak;
(b)
such sums as may be appropriated from time to time for the purpose of the Council by the Dewan Undangan Negeri;
(c)
any donations, gifts or contributions from whatever lawful sources given to the Council; and
(d)
all fees, commissions, rentals or other levies collected by the Council or any other income or revenue obtained by the
Council in connection with the exercise of its powers and discharge of its functions under this Ordinance.
(3)
The Council may open and maintain an account or accounts with any licensed bank or other financial institutions as the
Council may think fit.
For Reference Only
Sarawak LawNet 14
(4)
The Council may from time to time invest any funds of the
Council in any bank or other financial institutions licensed under the
Banking and Financial Institutions Act 1989 [Act 372] or the Islamic
Banking Act 1983 [Act 276].