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← Lembaga Kemajuan Wilayah Pulau Pinang Act 1983

Lembaga Kemajuan Wilayah Pulau Pinang Act 1983 s 18

Lembaga Kemajuan Wilayah Pulau Pinang Act 1983 s 18

s 18 Establishment of the Fund

(1) For the purposes of this Act there is hereby established a fund (referred to in this Act as “the Fund”) to be administered and controlled by the Lembaga. (2) The Fund shall consist of— (a) such sums as may be provided from time to time for those purposes by Parliament or the Legislative Assembly of the State; (b) such sums as may be paid from time to time to the Lembaga from loans; (c) moneys earned by the operation of any project, scheme or enterprise financed from the Fund; (d) moneys earned or arising from any property, investments, mortgages, charges or debentures acquired by or vested in the Lembaga; (e) any property, investments, mortgages, charges or debentures acquired by or vested in the Lembaga; (f) sums borrowed by the Lembaga for the purposes of meeting any of its obligations or discharging any of its duties; and (g) all other sums or property which may in any manner become payable to or vested in the Lembaga in respect of any matter incidental to its powers and duties. (3) In this section, the expression “loans” means such sums as may be made available from time to time to the Government of the Federation or of the State by way of loan.

Read this section in the full act → · Open Part IV →

Find Act 282 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).

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