Social and Welfare Services Lottéries Board Act 1950-1962 s 13
This legislation has been repealed. Do not cite it as law in force.
Text recovered by OCR from a scanned copy — section numbers and wording may be wrong. Check the official PDF on lom.agc.gov.my before citing.
s 13
(1) The Board may establish a Reserve Fund, of Reserve such amount as the Minister of Finance may approve, for the purpose of meeting any present, future or contingent liabilities incurred or likely to be incurred by the Board in carrying out its duties under this Act ot in promoting or administering any lottery which it is or may be permitted to promote under this Act, ana may pay into such Fund from time to time, subject to tne approval of the Minister of Finance, out of any sums received by it in respect of any lottery such sums as may be necessary for the maintenance of such Fund at the approved amount.
(2) Where, as a result of moneys in the Reserve Fund [4m. being deposited in any bank, the total of the amount of • Act 21|62; 84 |65.] such moneys exceeds the amount approved by the -
[S. 13-16] Minister of Finance, then unless that Minister otherwise directs, such excess shall be paid into the Consolidated Fund. Establishment of building Luan tund. 34161.9
Malay text (authoritative)
(1) Lembaga boleh menubuhkan suatu Kumpulan Wang Rizab, mengandungi apa-apa amaun yang diluluskan oleh Menteri Kewangan, bagi maksud memenuhi apa-apa liabiliti masa kini, masa depan atau kontingen yang ditanggung atau yang mungkin akan ditanggung oleh Lembaga dalam masa menjalankan tugas-tugasnya di bawah Akta ini atau dalam masa menganjur atau mentadbirkan sesuatu loteri yang ianya dibenarkan atau boleh dibenarkan menganjur di bawah Akta ini, dan boleh membayar masuk ke dalam Kumpulan Wang itu dari semasa ke semasa, tertakluk kepada kelulusan Menteri Kewangan, daripada apa-apa jumlah wang yang diterima olehnya berkenaan dengan sesuatu loteri, sejumlah wang yang diperlukan bagi penyenggaraan Kumpulan Wang itu mengikut amaun yang diluluskan.
(2) Jika, disebabkan oleh wang dalam Kumpulan Wang Rizab itu didepositkan dalam sesuatu bank, jumlahnya amaun wang itu melebihi amaun yang diluluskan oleh Menteri Kewangan, maka, melainkan jika Menteri itu mengarahkan sebaliknya, lebihan itu hendaklah dibayar masuk ke dalam Kumpulan Wang Disatukan.
[S. 16-17] Undang-
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Find Act 252 on lom.agc.gov.my ↗
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).
