Malaysia legislation

Section 6

of SARAWAK SOVEREIGN WEALTH FUTURE FUND BOARD ORDINANCE, 2022

Section 6

Fund Account”, which shall receive and hold—

(2)

Without prejudice to the generality of subsection (1), the

Dewan Undangan Negeri may by a single resolution authorize the withdrawal of such amount from the State Consolidated Fund as the

Dewan Undangan Negeri thinks fit, for each year within a fixed period not exceeding thirty years from the date of coming into force of this

Ordinance.

(3)

Any resolution passed by the Dewan Undangan Negeri for withdrawal of funds from the State Consolidated Fund for the purposes of making the Initial Appropriation or any Annual

Appropriation shall stipulate the manner, amount, and timing for the transfer of the funds authorized to be appropriated to the Fund.

Provided that any amount so authorized shall be appropriated to and deposited in the Investment Fund Account within the financial year for which such withdrawal for appropriation is authorized by the

Dewan Undangan Negeri.

(4)

Where any gift of money or asset is donated to the

Government for investment in accordance with this Ordinance, the

Minister shall cause such money or asset to be transferred to the Fund and be deposited in the Investment Fund Account.

Appropriations to the Fund