Malaysia legislation

Section 26

of Sabah Forestry Development Authority Enactment 1981

Section 26

(1)

There shall be established a Fund to be known as the ―Sabah Forestry

Development Authority Fund‖ which shall consist of—

(a)

such sums as may from time to time be provided by the Legislative

Assembly out of the general revenues of the State of Sabah or donated by the Government of Sabah, or the Government of Malaysia or of any other State thereof or by any other institution or person for the purposes of the Authority;

(b)

such sums as may from time to time be raised by the Authority by loan;

(c)

all rents and proceeds of sale profits and income and other funds derived by the Authority directly or indirectly from the property belonging to the

Authority;

(d)

all such other sums as may from time to time be paid to the Authority.

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(2)

The Fund may be applied in defraying the following charges—

(a)

the expenses and allowances of the members;

(b)

the salaries, fees or remuneration of the officers, agents and servants and technical or other advisers of the Authority;

(c)

all costs, charges and expenses of and incidental to the exercise of the powers of the Authority under this Enactment;

(d)

interest on any loan raised by the Authority;

(e)

sums required for the repayment of moneys borrowed;

(f)

such sums as it may be deemed appropriate to set aside in respect of depreciation on the property of the Authority;

(g)

any architect, management and agency fees;

(h)

grant or loan authorised by the Authority to the State or towards any particular development project carried out by the State;

(i)

any other expenditure authorised by the Authority and properly chargeable to revenue account.

(3)

The balance of the revenue and income of the Authority shall be applied for the creation of a general reserve or such other reserves or capital funds as the Authority may deem appropriate.

Investment of funds.