s 18 Appointment of officers and servants of the Authority
(1) The Authority may, from time to time, employ persons who shall be paid such remuneration and allowances and shall hold their employment on such other terms and conditions as the Authority may determine. (2) The Authority may make arrangements for the payment to its officers and servants and their dependants of such retirement benefits, gratuities or other allowances as it may determine. Establishment of staff welfare fund 18 A. (1) The Authority may, with the written approval of the Minister, out of the funds of the Authority, create and maintain a trust account to be known as the βLabuan Offshore Financial Services Authority Staff Welfare Fundβ for the benefits of its officers and employees including their dependants. (2) The Labuan Offshore Financial Services Authority Staff Welfare Fund shall be utilized for such purposes conducive to the welfare of the officers and employees of the Authority, including their dependants, as may from time to time be provided in trust directions to be issued by the Authority with the approval of the Minister, and such directions may provide for the manner and the procedure for the making of the grant, loans or other payments from such Fund.