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Act 474, Land Development Act 1956 (Revised 1991)

Act 474, Land Development Act 1956 (Revised 1991)

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Publicado porWahab Chik
Laws of Malaysia (LOM) Land Development Act 1956 (Revised 1991)
Laws of Malaysia (LOM) Land Development Act 1956 (Revised 1991)

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Published by: Wahab Chik on Mar 30, 2012
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07/22/2013

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33.It shall be the duty of a board to conserve the fund established
in pursuance of section 32 by so exercising and performing its
functions and duties under this Act as to secure that the total
revenues of the board are sufficient to meet all sums properly
chargeable to their revenue account, including, without prejudice to
the generality of that expression, provisions in respect of its
obligations under section 34 and depreciation and interest on capital,
taking one year with another.

Reserve fund

34.(1)Every board shall establish a reserve fund.

27

Land Development

(2)The management of the reserve fund, the sums to be paid from
time to time to the credit thereof and the application thereof shall be as
the board may determine:

Provided that no part of the reserve fund shall be applied otherwise
than for the purposes of the board.

Powers of expenditure

35.A board may pay out of the fund established in pursuance of
section 32 and from the other resources of the board—
(a)any loan made by the board;
(b)any expenses lawfully incurred by the board including
survey, legal and other fees and costs, and the
remuneration of any officer or servant appointed and
employed by the board, including superannuation, allowances
or gratuities;
(c)any other expenses, costs or expenditure properly incurred
or accepted by the board in the execution of its duty or the
discharge of its functions.

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