Delegation of powers of Lembaga
(1) The Lembaga may, subject to such conditions, limitations or restrictions as it thinks fit, delegate to the Chairman, General Manager or any other person the power and authority to carry out on its behalf such powers, duties or functions by this Act vested in or imposed on the Lembaga as the Lembaga may determine, except the power to borrow money, raise loans and make regulations; and any power or function so delegated may be exercised or performed by the Chairman or General Manager or such other person, as the case may be, in the name and on behalf of the Lembaga.
(2) Without prejudice to the generality of subsection (1), the Lembaga may delegate to the Chairman, General Manager, any of its other members or any person authority to sanction expenditure from the Fund or any other money under the control of the Lembaga up to such limit as the Lembaga shall in such case specify.
Power to borrow
(1) The Lembaga may from time to time 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 Lembaga for meeting any of its obligations or discharging any of its duties.
(2) The Lembaga may, from time to time, with the approval of the Minister, borrow money by the issue of bonds, debentures or debenture stock, or raise capital by the issue of shares or stock of such class and value and upon such terms as it may deem expedient, for all or any of the following purposes:
(a) the provisions of working capital;
(b) the fulfilling of the duties of the Lembaga under this Act;
(c) the fulfilling of such additional functions as may be undertaken by the Lembaga under this Act;
(d) the redemption of any shares or stock which it is required or entitled to redeem; and
(e) any other expenditure properly chargeable to capital account.
Investment
The assets of the Lembaga shall, in so far as they are not required to be expended by the Lembaga under this Act, be invested in such manner as the Minister may approve.
Power to employ agents
The Lembaga may employ and pay agents and technical advisers including advocates and solicitors, bankers, stock-brokers, surveyors or valuers or other persons, to transact any business or to do any act required to be transacted or done in the execution of its duties or for the better carrying into effect the purposes of this Act.
Power to make loans
In the execution of its duty or in the discharge of its functions, the Lembaga may make loans, and such loans may be granted subject to such terms and conditions as the Lembaga may deem fit to impose in particular cases.
Power to establish corporation
(1) The Lembaga may from time to time by Order published in the Gazette establish a corporation by such name as the Lembaga may think fit to carry out and have the charge, conduct and management of any project, scheme or enterprise which has been planned or undertaken by the Lembaga in execution of its duties or discharge of its functions.
(2) The provisions of the Second Schedule shall apply to the corporation established by the Lembaga under subsection (1).
Compulsory acquisition of land
(1) When any immovable property, not being State land, is needed to be acquired by the Lembaga for the purposes of this Act, such property may be acquired in accordance with the provisions of any written law relating to the acquisition of land for a public purpose for the time being in force in the State, and any declaration required by any such written law that such land is so needed may be made notwithstanding that compensation is to be paid by the Lembaga; and such declaration shall have effect as if it were a declaration that such land is needed for a public purpose in accordance with such written law.
(2) The expenses and compensation in respect of any immovable property acquired under this section shall be paid by the Lembaga.
(3) When any immovable property has been acquired under this section, the Lembaga shall extract the necessary documents of title in respect of such property and shall pay any rent to which such property may be subject.
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).
