mel E-mail  

Reserve Fund
16.   The Perbadanan shall establish and manage a reserve fund within the Fund.
Improvement services Fund
17. (1) The Perbadanan shall establish and manage a fund to be known as the Improvement Service Fund.
  (2) The Improvement Service Fund shall consist of any sums contributed by any person who erects a building in the Federal Territory of Labuan in accordance with the rates prescribed by regulations
  (3) The Improvement Service Fund shall be expended for the purpose of carrying out works to improve the existing infrastructural facilities
Expenditure and Preparation of Estimates
18. (1) The expenditure of the Perbadanan up to such amount as may be authorized by the Minister for any one year shall be defrayed out of the Fund.
  (2) Before the beginning of September of each year, the Perbadanan shall submit to the Minister an estimate of the expenditure, including the expenditure for development projects, for the following year in such form and containing such particulars as the Minister may direct; and the Minister shall, before the beginning of the following year, notify the Perbadanan of the amount authorized for expenditure generally or of the amounts authorized for each description of expenditure.
  (3) The Perbadanan may at any time submit to the Minister a supplementary estimate for any one year and the Minister may allow the whole or any part of the additional expenditure included therein
  (4) The Minister may direct the Perbadanan to submit a copy of the estimate or supplementary estimate, as the case may be, to such other public authority as may be specified in the direction.
Statutory Bodies (Accounts and Annual Reports) Act 1980
19.   The Statutory Bodies (Accounts and Annual Reports) Act 1980 [Akta 240] shall apply to the Perbadanan and any corporation established under section 24.
Pages: 1  2