Section 7

to enter into collaborative arrangement (including the provision of financial support) with any industry, educational institution or research institution to promote, facilitate and advance research and development or the commercial application of any finding, discovery and intellectual property resulting from such research and development;

9

to provide direction and financial support for any research and development carried out by any Government department, statutory body or company or corporation belonging to the Government;

to form or participate in the formation of any company or enter into any joint venture or partnership for the purpose of this Ordinance;

to carry out feasibility studies with a view to establish strategic direction for any specific research or for the commercial application of any discovery, finding and innovation;

to grant licence, on such terms and conditions as the

Council deems fit, for the use or commercial application of any intellectual property rights belonging to the Council;

to provide or develop incubator facilities for new enterprises and business support facilities or assistance to growing enterprises, which are based on or involved in the commercial application by any person approved by the

Council of any discovery, finding or innovation arising from research and development undertaken in accordance with this

Ordinance;

to publish, produce or sponsor the publication of journals, books or other materials in written form, electronic or other media on research and development undertaken pursuant to this Ordinance and to promote or undertake publicity in regard to such research and development;

to receive, accept, acquire, develop or hold or sell, charge, pledge or otherwise dispose of any property, moveable or immoveable;

to accept or receive donations and gifts from any source and to raise funds by borrowing or any other lawful means to enable the Council to perform its functions and discharge its duties;

to apply for and seek loans, grants, funds and other financial assistance from the Government of Malaysia and other corporations, institutions or bodies, whether within or outside Sarawak, for the purposes of this Ordinance;

10

to invest all moneys not immediately required to be expended in the meeting of any obligations or the discharge of any functions of the Council in any bank or financial institution licensed under the Financial Services Act 2013 [Act 758] or Islamic Financial Services Act 2013 [Act 759] or in such other investments or securities as may from time to time be approved by the Council;

to acquire or obtain technologies from any source outside Sarawak to support or facilitate or essential for advancing any specific scientific and technology research and development undertaken by or on behalf of the Council in

Sarawak and to arrange for the transfer of such technologies;

to employ or appoint such officers, employees, agents, consultants, experts or advisors or establish committees consisting of persons who may or may not be members of the Council as the Council deems necessary for the efficient performance of its functions and discharge of its duties;

with the approval of Majlis Mesyuarat Kerajaan

Negeri―

to establish any scheme for payment of gratuities, pensions, contributions to provident fund or other superannuation benefits to such employees or classes of employees of the Council upon their retirement from the service of the Council or death while in the service of the Council; and