Section 12
Fund of the Board
of Valuers, Appraisers and Estate Agents Act 1981
All fees, fines and costs payable under this Act and all other moneys due to the Board under the provisions of this Act and such other sums as may be paid to the Board shall be credited to the Fund of the Board of Valuers,
Appraisers, Estate Agents and Property Managers.
(2)
The Fund may be applied for—
(a)
the payment of the salaries, remuneration and allowances of the staff employed by the Board;
(b)
the payment for professional and other services required by and rendered to the Board;
(c)
the payment for office equipment, stationery, furniture and other things required by the Board;
(d)
the payment to members of the Board or Appeal Board of fees and reasonable travelling and subsistence allowances for attendance at meetings of the Board or Appeal Board as may from time to time be approved by the Minister;
(e)
the payment of the expenses of registration and other expenses of administration, the expenses of any research, investigation, study, conference or seminar and the expenses for the printing or publication of forms, journals, brochures, directories, pamphlets,
20 Laws of Malaysia ACT 242
advertisements and other documents connected with the Board’s functions or duties;
(f)
the payment of rents, fees, dues, rates, premiums, compensations and other moneys that the Board may be required to pay;
(g)
the payment of moneys towards awards, grants and donations made by the Board;
(h)
the purchase or lease of any immovable property required by the
Board; and
(i)
the carrying out of all other functions of the Board.
(3)
Moneys not immediately required may be invested in any immovable property or in any investments specified under section 4 of the Trustee Act 1949 [Act 208] as the Board may determine.