Establishment of National Library Fund
(1) For the purpose of library development, there is established and incorporated into the Second Schedule to the Financial Procedure Act 1957 [Act 61] the following fund, namely: “National Library Fund”, (hereinafter referred to as “the Fund”). (2) The Fund shall be controlled and operated by the Director General in accordance with the provisions of this Part.
Moneys required to be paid into the Fund
(1) Notwithstanding the provisions of the Financial Procedure Act 1957 and the Development Funds Act 1966 [Act 406] there shall be paid from time to time into the Fund— (a) such sums as may be appropriated by Parliament from the Development Fund or otherwise for the purposes of library development; (b) moneys received by way of donation or bequest for the purposes of the Library; (c) interest received from the investment of moneys standing to the credit of the Fund; (d) any other moneys received by the Government in such circumstances as the Minister of Finance considers appropriate to be paid into the Fund: Provided that any balance of moneys received by the Government for the purpose of the Library before the appointed date which would have to be paid into the Fund under this subsection had the moneys been received on or after the appointed date, shall be accounted for in this Fund. (2) Payments into the Fund of moneys referred to in paragraph (1)(a) shall be made in such sums and at such times as the Minister of Finance directs.
Application of moneys of the Fund
(1) Notwithstanding the provisions of the Development Funds Act 1966, moneys standing to the credit of the Fund may be applied by the Director General for the following purposes: (a) payment for the cost of site, construction of and extension to building, and equipment for the Library; (b) payment of consultation expenses for library development; (c) payment for the cost of library resources and services acquired for the purposes of library development; (d) any other payment for the purposes of library development. (2) Moneys standing to the credit of the Fund may be invested in accordance with paragraph 8(3)(a) of the Financial Procedure Act 1957.
Estimate
Each year the Director General shall within such period as may be determined by the Treasury submit through the Minister to the Treasury a statement showing the estimated receipts and payments of the Fund in respect of the following year. In support of such statement the Director General shall submit details of the development programme which he proposes to undertake in that following year.
Accounts and audit
(1) The Director General shall cause proper accounts to be kept and maintained in respect of the Fund. (2) The Director General shall as soon as the accounts have been audited submit to the Minister and the Minister of Finance the audited statements of accounts together with any observations thereon. (3) The Minister shall cause the audited statements of accounts together with observations, if any, to be laid before both Houses of Parliament.
Provisions on this page are reproduced verbatim from official open data. See the attribution line.
Text as at 1 January 2006 (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).