Delegation by the Board
The Board may, by an instrument in writing under the common seal, delegate to any person or body such of its duties as may be necessary to be performed in or outside Malaysia: Provided that any such person or body shall have no control over the Fund and shall act in all respects in accordance with the direction of the Board.
Power to borrow
The Board may, from time to time, with the approval of the Minister, borrow, at such rate of interest and for such period and upon such terms as to the time and method of repayment and otherwise as the Minister may approve, any sums required by the Board for meeting any of its obligations or discharging any of its duties.
Investment
The assets of the Board shall, in so far as they are not required to be expended by the Board under this Act, be invested in such manner as the Minister may approve.
Power to employ
The Board may employ and pay agents and technical advisers, including advocates and solicitors, bankers, stockbrokers, surveyors, valuers and other persons, to transact any business or to do any act required to be transacted or done in the performance of its functions, the exercise of its powers or the discharge of its duties or for the better carrying into effect the purposes of this Act.
Provisions on this page are reproduced verbatim from official open data. See the attribution line.
Text as at 1 May 2010 (LOM reprint); amendments made after that date may not be incorporated. Read the official text ↗
Source: Laws of Malaysia, Attorney General's Chambers of Malaysia (lom.agc.gov.my). Not a copy of the Gazette printed by the Government Printer (Interpretation Acts 1948 and 1967, s 61).