Solid Waste and Public Cleansing Management Corporation Fund
(1) A fund to be known as the “Solid Waste and Public Cleansing Management Corporation Fund” is established and shall be administered and controlled by the Corporation.
(2) The Fund shall consist of—
(a) such sums as may be provided by Parliament from time to time for the purposes of the management of solid waste and public cleansing;
(b) all moneys derived as income from investments by the Corporation;
(c) all moneys derived from the sale, disposal, lease or hire, or any other dealing with, any property, mortgages, charges or debentures vested in or acquired by the Corporation;
(d) all moneys earned from consultancy and advisory services and any other services provided by the Corporation;
(e) all other moneys and property which may in any manner become payable to or vested in the Corporation in respect of any matter incidental to its functions;
(f) sums borrowed by the Corporation under section 32;
(g) all moneys earned by the operation of any project, scheme or enterprise financed from the Fund;
(h) all donations and contributions received from within or outside Malaysia; and
(i) all other moneys lawfully received by the Corporation.
Expenditure to be charged on the Fund
The Fund shall be expended for the following purposes:
(a) paying any expenditure lawfully incurred by the Corporation;
(b) paying for the allowances and other expenses of the members of the Corporation and members of the committees and the remunerations, allowances and other expenses of the officers and employees of the Corporation, including the granting of loans and advances, superannuation allowances, retirement benefits and gratuities;
(c) granting loans, scholarships and advances to its employees under section 24;
(d) paying any other expenses, costs or expenditure properly incurred or accepted by the Corporation for the purpose of the management of solid waste and public cleansing, including the engagement of consultants, legal fees and costs and other charges and costs;
(e) purchasing or hiring equipment, machinery and any other material, acquiring land and any assets, and erecting buildings and carrying out any other works and undertakings for the purpose of the management of solid waste and public cleansing;
(f) repaying moneys borrowed under section 32 and the interest due on the borrowed moneys;
(g) investment under section 33; and
(h) generally, paying any expenses for the purpose of the management of solid waste and public cleansing in general and carrying into effect the provisions of the solid waste and public cleansing management laws in particular.
Conservation of the Fund
The Corporation has the duty to conserve the Fund by so performing its functions and exercising its powers under this Act to secure that the total revenue of the Corporation are sufficient to meet all sums properly chargeable to its revenue account including depreciation and interest on capital taking one year with another.
Expenditure and preparation of estimates
(1) The expenditure of the Corporation up to such amount as may be authorized by the Minister for any one year shall be defrayed out of the Fund.
(2) Before 1 September of each year, the Corporation shall submit to the Minister an estimate of its expenditure, including the expenditure for research and development programmes, for the following year in such form and containing such particulars as the Minister may direct.
(3) The Minister shall, before 1 January of the following year, notify the Corporation of the amount authorized for each description of expenditure based on the estimate prepared under subsection (2).
(4) The Corporation may at any time submit to the Minister a supplementary estimate of its expenditure for any one year and the Minister may allow the whole or any part of the additional expenditure included in the supplementary estimate.
Bank accounts
The Corporation shall open and maintain an account or accounts with such bank or banks in Malaysia as it thinks fit, after consulting the Minister, and every such account shall be operated upon as far as practicable by cheques signed by any person as may be authorized by the Corporation for such purpose from time to time.
Power to borrow
The Corporation may borrow, with the approval of the Minister and the Minister of Finance at such rate of interest and for such period and upon such terms as to the time and method of repayment and such other terms as the Minister and the Minister of Finance may approve, any sums required by the Corporation for meeting any of its obligations or discharging any of its duties.
Investment
(1) The moneys from the Corporation Fund shall, in so far as they are not required to be expended by the Corporation under this Act, be invested in such manner as the Minister and the Minister of Finance may approve.
(2) Without prejudice to the generality of subsection (1), the Corporation may, with the approval of the Minister, acquire and develop land and properties for or in connection with the exercise of its powers and for this purpose may enter into such negotiations, arrangements or agreements as may be necessary for the effective and efficient operation of the Corporation.
Limitations on contracts
The Corporation shall not, without the approval of the Minister and the Minister of Finance, enter into any contract under which the Corporation is to pay or receive an amount exceeding ten million ringgit.
Financial procedure
Subject to this Act and the approval of the Minister, the Corporation shall determine its own financial procedure.
Financial year
The financial year of the Corporation shall begin on 1 January and end on 31 December of each year.
Accounts and reports
(1) The Corporation shall cause proper accounts of the Fund and proper reports of its activities to be kept and shall, as soon as possible after the end of each financial year, cause to be prepared for that financial year—
(a) a statement of accounts of the Corporation which shall include a balance sheet and an account of income and expenditure; and
(b) a statement of its activities.
(2) The Corporation shall as soon as possible send a copy of the statement of accounts certified by the auditors and a copy of the auditors’ report to the Minister and the Minister shall cause such statement and report to be laid before both Houses of Parliament.
(3) The Statutory Bodies (Account and Annual Reports) Act 1980 [Act 240] shall apply to the Corporation.
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).
