This Act may be cited as the Penang and Province Wellesley Jubilee Fund Act 1965.
Act 821
Penang and Province Wellesley Jubilee Fund Act 1965 (Revised - 2019)
Akta kumpulan wang jubli pulau pinang dan seberang perai 1965 (disemak - 2019)
An Act to make better provision for the Penang and Province Wellesley Silver Jubilee Fund.
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In this Act, unless the context otherwise requires—
“Chief Minister” means the Chief Minister of Penang;
“Corporation” means the Corporation established by section 3;
“Fund” means the Penang and Province Wellesley Silver Jubilee Fund and includes all subscriptions, donations, interest and dividends collected and received by the Corporation for the purposes of this Act;
“Trustees” means the Chief Minister, ex-officio, and three residents of the State of Penang appointed under section 3;
“Yang di-Pertua Negeri” means the Yang di-Pertua Negeri of Penang.
(1) The Chief Minister, ex-officio, and three residents of the State of Penang appointed by the Yang di-Pertua Negeri shall be the Trustees of the Fund who shall be a Corporation.
(2) The Corporation shall have the name of the “Trustees of the Penang and Province Wellesley Silver Jubilee Fund” and shall have perpetual succession and a common seal.
(3) The Corporation may sue and be sued in its name.
(4) The objects of the Fund are as follows:
(a) to relieve the poor and needy in Penang; and
(b) to maintain a home or settlement in Penang Island for the poor.
(5) For the purposes and benefit of the Fund, the Corporation may—
(a) enter into contracts;
(b) acquire, purchase, take, hold and enjoy moveable and immoveable property of every description;
(c) sell, convey, assign, surrender, mortgage, lease or otherwise dispose of any moveable or immoveable property vested in the Corporation upon such terms as the Corporation thinks fit; and
(d) collect and receive subscriptions, donations, interest and dividends.
The Chief Minister shall be, ex-officio, the Chairman of the Corporation and shall have the custody of the seal of the Corporation.
All deeds, documents or other instruments which are by law required to be sealed shall be sealed with the seal of the Corporation in the presence of the Chairman and one other Trustee, and shall also be signed by each of them; and the signing shall be taken as sufficient evidence of the due sealing of such deeds, documents and other instruments.
(1) The Trustees shall appoint a General Committee consisting of twelve persons.
(2) The Trustees may appoint members of the General Committee either generally or for a specified period, and may, in their discretion, revoke the appointment of any member of the Committee.
(3) Upon any member of the General Committee ceasing to hold that appointment, the Trustees shall appoint a new member.
(4) The General Committee shall have full power to manage the Fund and to spend the moneys of the Fund for the purposes set out in this Act, but shall be subject to the control of the Trustees.
(5) The General Committee shall not be incapable of acting by reason only of there being any vacancy in the membership of the Committee.
(6) Every Trustee shall be eligible to be appointed as a member of the General Committee.
(7) The Trustees shall appoint a Secretary and a Treasurer and such other officers as the Trustees consider desirable for the management of the Fund, and may in their discretion, at any time remove from his appointment any officer so appointed.
(1) The General Committee may appoint subcommittees consisting of members of the Committee with the addition of any other persons as the Committee may desire with the approval of the Trustees.
(2) The General Committee may at any time, remove such other persons appointed under subsection (1) and appoint other persons in their place with the approval of the Trustees.
(3) The General Committee may delegate any power as it thinks fit to the subcommittees.
The Trustees may make rules providing for the duties and procedures of the General Committee and of the subcommittees.
All moneys belonging to, or collected or received by, the Corporation, shall be deposited in the bank of the Corporation.
(1) All cheques drawn upon the bank account of the Corporation shall be signed by the Chairman of the General Committee and shall be countersigned by the Treasurer.
(2) The bank may pay all cheques drawn against that account which are so signed and countersigned.
(1) The moneys of the Fund may be invested by the Corporation in any security in which trustees are authorized by law to invest trust funds.
(2) All investments shall be made in the name of the Corporation.
The Treasurer shall keep the accounts of the Fund which shall be audited by the Auditor General.
The Treasurer shall submit to the Trustees an annual statement of accounts audited under section 12 and shall furnish the Trustees with such information as the Trustees may require.
(1) Meetings of the Trustees shall be held at such places and times as the Chief Minister thinks fit.
(2) Two Trustees, of whom the Chief Minister shall be one, shall form a quorum.
(3) In the event of an equality of votes, the Chief Minister shall have a second or casting vote.
(Revised—2019)
Cite this legislation
- Official citation
- Act 821
- Source
- lom.agc.gov.my
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- Licence
- Official text, free to reproduce (Copyright Act 1987 [Act 332] s 3) ↗
Penang and Province Wellesley Jubilee Fund Act 1965 (Revised - 2019) [Act 821] (Laws of Malaysia, lom.agc.gov.my). Retrieved via LawPlayer, https://lawplayer.com/my/act/act-821
This text is synced from lom.agc.gov.my. In case of any discrepancy, the official version prevails.
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).