Local Government Act 1976 s 52
Sections 85–93 were repealed by later amendments.
s 52 Renewal and insurance funds
A local authority may from time to time provide for the annual setting aside of amounts to create—
(a) adequate renewal funds to provide for the entire or partial replacement of assets of the local authority which owing to depreciation or other cause need to be replaced at some future date; and
(b) insurance funds to cover risks or to provide for contingencies, the liability for which would otherwise have to be met by the local authority as and when such risks or contingencies fall due.
Malay text (authoritative)
Kumpulan wang pembaharuan dan insurans
Sesuatu pihak berkuasa tempatan boleh dari semasa ke semasa mengadakan peruntukan bagi mengasingkan tiap-tiap tahun amaun untuk mewujudkan—
(a) kumpulan wang pembaharuan yang cukup bagi mengganti seluruh atau sebahagian daripada aset pihak berkuasa tempatan itu, yang mana oleh sebab susutan atau sebab lain perlu diganti pada sesuatu masa yang akan datang; dan
(b) kumpulan wang insurans untuk meliputi risiko atau untuk mengadakan peruntukan bagi luar jangka, iaitu tanggungan yang jika tidak ada kumpulan wang itu tetap kena dijelaskan oleh pihak berkuasa tempatan itu apabila jua risiko atau luar jangka itu berlaku;
Read this section in the full act → · Open Part V →
Find Act 171 on lom.agc.gov.my ↗
Text as at 1 January 2006 (LOM reprint); amendments made after that date may not be incorporated.
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).
