Malaysia legislation
Section 32
Section 32
(1)
There shall be established a fund to be known as the “Housing and Town
Development Fund” which shall include a Capital Account and a Housing and Town
Development Account.
(2)
The Capital Account shall include particulars of the expenditure of moneys provided by the Government and by the raising of loans for the purpose of building.
(3)
The Housing and Town Development Account shall contain-
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(a)
on the income side-
(i)
the proceeds of sales and rents from all property owned by the
Authority;
(ii)
contributions from tenants in respect of conservancy and service charges and income from other miscellaneous sources;
(iii)
grants from the Government by way of subsidy or reimbursement;
(b)
on the expenditure side-
(i)
the cost of administration of the Authority;
(ii)
the cost of designing and supervising the erection of new buildings;
(iii)
the cost of managing the housing estates;
(iv)
contributions to the local authority in respect of rates, and payments to the local authority in respect of conservancy and service charges;
(v)
the cost of maintenance of buildings;
(vi)
contributions for housing repairs;
(vii)
the payments of interest and repayments of principal on loans;
(viii)
any other expenditure properly chargeable in the opinion of the
Authority to such account.
Investment of funds.