This legislation has been repealed. Do not cite it as law in force.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 39
(1) There shall be established a Fund to be known as the "Lembaga Letrik Sabah Fund" which shall consist of—
(a) such sums as may from time to time be provided by Parliament to the Board or donated by the Government of Sabah or of any other State or by any other institution or person for the purposes of the Board;
(b) such sums as may from time to time be raised by the Board by loan;
(c) such sums as may be collected as tarilis unde the provisions of this Act or any other writter
(d) all rent and proceeds of sale profits and income and other funds derived by the Board directly or indirectly from the property belonging to the Board;
(e) all fees and such other sums as may from time to time be paid to the Board. shall be appied in d ehr inarthe followini gaarigsyear
(a) the remuneration. fees and allowances of the members of the Board;
(b) the salaries, fees, remuneration, allowances, pensions, superannuation allowances and any zratuities due under any contract, of the officers, agents and servants and technical or other advisers of the Board;
rio lines, quipment 'ment by ents have ers, accun hire by mount of rhich any rorks and se known shall conprovided ed by the • State or for the be raised fis under ir written d income ing tochy rom time cial year argeses of the lowances, and any of the hnical or IPt. VI, S. 39-40]
(c) working and establishment expenses and expenditure on, or provision for the maintenance of any of the installations of the Board, and the discharge of the functions of the Board properly chargeable to revenue account;
(d) interest onl any debentures and debenture stock issued, and on any loan raised by the Board;
(e) sums required to be transferred to a sinking fund or otherwise set aside for the purpose of making provision for the redemption of debentures or debenture stock or the repayment of other borrowed moneys;
(f) such sums as it may be deemed appropriate to set aside in respect of depreciation on the property of the Board having regard to the amount set aside out of revenue under paragraph (e) of this subsection; and
(g) any other expenditure authorized by the Board and properly chargeable to revenue account
(3) The balance of the revenue of the Board shall be applied-
(a) to the creation of a general reserve; and
(b) to the payment of such interest on shares and stock issued by the Board as the state of the undertakings and the financial position oi the Board appear, in the opinion of the Board, to warrant, but so that, in the case of ordinary shares or stock, the rate of interest shall not exceed an average rate, taking one year with another, of six per centum per annum of the nominal value thereof. from time to time, with the Powerto issue stock, etc. upon such terms as it may deem expedient, for all or
(a) the provision of working capital;
(b) the fulfilling of the functions of the Board under this Act;
(c) the acquisition of other electricity undertaking;
iPt. VI, S. 40-44] duties and powers of Board in financial matters. Method of charging.
(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.
Malay text (authoritative)
(1) Maka hendaklah ditubuhkan suatu Kumpulan Wang yang dinamakan "Kumpulan Wang Lembaga Letrik Sabah" yang hendaklah terdiri dari-
(a) apa-apa jumlah wang yang darı semasa ke semasa diperuntukkan oleh Parlimen kepada Lembaga atau yang didermakan oleh Kerajaan Sabah atau mana-mana Kerajaan Negeri yang lain atau oleh mana-mana institusi atau orang lain bagi maksud-maksud Lembaga;
(b) apa-apa jumlah wang yang dari semasa ke semasa didapatkan oleh Lembaga melalui pinjaman;
(c) apa-apa jumlah wang yang dipungut sebagai tarif đi bawah peruntukan-peruntukan Akta ini atau mana-mana undang-undang bertulis yang lain;
(d) semua sewa dan keuntungan dari hasil jualan Lembaga;
(e) semua fee dan apa-apa jumlah wang lain yang dari semasa ke semasa dibayar kepada Lembaga.
lain yang tara, yang gai pemurik, meter, n yang diuat secara a ansuran 1 elektrik, lengkapan oleh menana premis Lsang apaigan, kerja Kumpulan iemasa ke en kepada 1 Kerajaan egert yang itau orang iemasa ke a melalui ut sebagai n Akta ini rtulis yang asil jualan lain yang sung atau cepunyaan : lain yang r kepada [Bah. VI, S. 39] LBMBAGA LBIRIK SABAH
(2) Kumpulan Wang Lembaga bagi sesuatu tahun kewangan hendaklah digunakan bagi membiayai cajcaj berikut-
(a) saraan, fee dan elaun anggota-anggota Lembaga;
(b) gajl, tee, saraan, elaun, pencen, elaun persaraan dan apa-apa ganjaran yang kena dibayar di bawah sesuatu kontrak, bagi pegawaipegawai, ejen-ejen dan pengkhidmat-pengklıdmat serta penasihat-penasihat teknik atau penasihat-penasihat lain Lembaga;
(c) belanja mengerjakan dan menubuhkan dan perbelanjaan menyenggarakan, atau peruntukan bagi menyenggarakan, mana-mana pepasangan Lembaga, dan pelaksanaan fungsi. fungsi Lembaga yang dipertanggungkan dengar sepatutnya kepada akaun hasil;
(d) bunga atas mana-mana debentur dan stok debentur yang dikeluarkan, dan atas apa-apa pinjaman yang didapati oleh Lembaga;
(e) jumlah wang yang dikehendaki dipindahkan kepada kumpulan wang penjelas atau sebaliknya diketepikan bagi maksud membuat peruntukan bagi menebus debentur atau stok debentur atau membayar balik wang-wang lain yang dipinjam;
(7) apa-apa jumlan wang yang disifatkannya patut diketepikan berkenaan dengan kesusutan nila harta Lembaga setelah memberi , perhatian tentang amaun yang diketepikan daripada hasil di bawah paragraf (e) subseksyen ini; dan
(g) apa-apa perbelanjaan lain yang dibenarkan oleh Lembaga dan dipertanggungkan dengan sepatutnya kepada akaun hasil.
(3) Baki hasil Lembaga hendaklah digunakan—
(a) bagi mewujudkan suatu rezab am; dan
(b) bagi membayar apa-apa bunga atas syer dan. stok yang dikeluarkan oleh Lembaga sebagaimana yang pada pendapat Lembaga keadaan pengusahaan dan kedudukan kewangan Lembaga membenarkan tetapi agar supaya dalam hal syer atau stok biasa, kadar bunga itu tidak
[Bah. VI, S. 39-43] mengeluardab. stok, Tugas-tugas kuasa-kuasa am perkaraperkara kewangan. Cata mencaj. boleh lebih daripada kadar purata sebanyak enam peratus setahun daripada nilai nominal nya dengan membandingkan setahun dengan
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).
