Section 47
of Sarawak Sovereign Wealth Future Fund Board Ordinance, 2022
Section 47
—
The Board shall, as soon as practicable after the end of each financial year, cause to be made and transmitted to the Majlis
Mesyuarat Kerajaan Negeri a report dealing generally with the 40
41
activities and affairs of the Board and all the committees established under section 26 during the preceding financial year and containing such information relating to the proceedings and policies of the Board as the Minister may, from time to time, direct.
(2)
Without prejudice to the generality of subsection (1), such report shall include—
(a)
a report on the performance of the investments of the
Fund in that financial year, highlighting any economic and other factors which had a material impact on such investments;
(b)
a report on the investment strategies and policies adopted by the Board in that financial year;
(c)
a report on the proposed investment strategies and policies to be adopted by the Board and a copy of the proposed budget for the next financial year; and
(d)
a report on any breaches or non-compliance of this
Ordinance by any person.
(3)
The Investment Advisory Panel shall, at the same time as the annual report is submitted to the Majlis Mesyuarat Kerajaan
Negeri pursuant to subsection (1), issue and deliver to the Board and the Majlis Mesyuarat Kerajaan Negeri a report specifying—
(a)
the analysis of the performance of the Fund and the management of the Fund in the financial year which is the subject-matter of the annual report of the Board;
(b)
general economic and industry-specific developments and emerging trends on a regional and global basis as at the date of the report; and
(c)
the recommendations for any changes in investment strategy and policy for the Fund for the next financial year.
(4)
The Minister shall cause a copy of every such report referred under this section to be laid before the Dewan Undangan
Negeri.