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Perumahan Rakyat 1Malaysia Act 2012 [Act 739]

Part VII   cite [+]

FINANCE

40 The PR1MA Corporation Malaysia Fund   cite [+]

(1) A fund to be known as the "PR1MA Corporation Malaysia Fund" is established and shall be administered and controlled by the Corporation.

(2) The PR1MA Corporation Malaysia Fund shall consist of-

(a) such sums as may be provided by the Parliament, from time to time, for the purposes of this Act;

(b) all or any part of the fees, costs, levies and other charges imposed by or payable to the Corporation under this Act or any other written law;

(c) all moneys derived as income from investments by the Corporation;

(d) all moneys derived from the sale, disposal, lease or hire, or any other dealing with, any property, mortgage, charge or debenture vested in or acquired by the Corporation;

(e) sums borrowed by the Corporation under section 45;

(f) such sums as may be paid to the Corporation from time to time for loans made by the Corporation;

(g) all moneys earned by the operation of any project, scheme or enterprise financed from the Fund;

(h) all donations and contributions received by the Corporation for the purpose of undertaking its functions, powers and duties;

(i) all other sums or property which may in any manner become payable to or vested in the Corporation in respect of any matter incidental to its functions;

(j) any costs paid to, or recovered by, the Corporation in any settlement of civil action or proceedings; and

(k) all other moneys lawfully received by the Corporation.

41 Expenditure to be charged on the PR1MA Corporation Malaysia Fund   cite [+]

The PR1MA Corporation Malaysia Fund shall be expended for the purposes of-

(a) paying any expenditure lawfully incurred by the Corporation;

(b) paying for the remuneration, allowances and other expenses of the members of the Corporation, the Approvals and Implementation Committee, the committees and employees of the Corporation, including the granting of loans, scholarships, advances, any other financial assistance and other allowances;

(c) paying for the allowances and other expenses of the members of the Appeal Tribunal;

(d) paying any other expenses, costs or expenditure in relation to the procurement of goods and services, including the engagement of consultants, legal fees and costs as well as other fees and costs, properly incurred or accepted by the Corporation in the performance of its functions or the exercise of its powers under this Act or any other written law;

(e) purchasing or hiring plant, equipment, machinery and materials, acquiring land and other assets, and erecting buildings, and carrying out any other works and undertakings in the performance of its functions or the exercise of its powers under this Act or any other written law;

(f) repaying any moneys borrowed under section 45 and the interest due on the borrowed moneys;

(g) investment under section 46; and

(h) generally paying any expenses for carrying into effect the provisions of this Act.

42 The Eligible Persons' Assistance Fund   cite [+]

(1) A fund to be known as the "Eligible Persons' Assistance Fund" is established and shall be administered and controlled by the Corporation.

(2) The Eligible Persons' Assistance Fund shall consist of-

(a) such sums as may be provided by the Parliament, from time to time, for the purpose of providing assistance to eligible persons;

(b) all moneys received from any person for the purpose of assistance programmes for eligible persons;

(c) all moneys derived from the income of investments of the Eligible Persons' Assistance Fund by the Corporation;

(d) sums borrowed under section 45 by the Corporation for the purpose of assistance programmes for eligible persons;

(e) such sums as may be paid to the Corporation from time to time for loans made by the Corporation in relation to assistance programmes for eligible persons;

(f) all moneys earned by the operation of any project, scheme or enterprise financed from the Eligible Persons' Assistance Fund;

(g) any legal cost paid to, or recovered by, the Corporation in any settlement of civil action or proceedings relating to the assistance programmes for eligible persons;

(h) all moneys recouped from or paid by the eligible persons pursuant to any assistance programmes for eligible persons; and

(i) all other moneys lawfully received by the Corporation for the purpose of the assistance programmes for eligible persons.


(3) The Eligible Persons' Assistance Fund shall be expended for the purposes of-

(a) paying any expenditure lawfully incurred by the Corporation in relation to the provision of the assistance programmes for eligible persons;

(b) paying any other expenses, costs or expenditure in relation to the procurement of goods and services, including the engagement of consultants, legal fees and costs as well as other fees and costs properly incurred or accepted by the Corporation in the performance of its functions or the exercise of its powers under this Act in providing the assistance programmes for eligible persons;

(c) providing monetary assistance by way of grants, subsidies, loans or equity or any other method as may be specified by the Corporation to eligible persons to purchase or rent PR1MA homes;

(d) repaying any moneys borrowed under section 45 for the purpose of providing assistance programmes for eligible persons and the interest due on the borrowed moneys;

(e) investment under section 46; and

(f) generally paying any expenses for carrying into effect the functions of the Corporation in relation to assistance programmes for eligible persons.

43 Conservation of PR1MA Corporation Malaysia Fund   cite [+]

It shall be the duty of the Corporation to conserve the PR1MA Corporation Malaysia Fund by so performing its functions and exercising its powers under this Act to secure that the total revenues of the Corporation are sufficient to meet all sums properly chargeable to its revenue account, including depreciation and interest on capital, taking one year with another.

44 Bank accounts   cite [+]

The Corporation shall open and maintain an account or accounts with such banks in Malaysia as the Corporation thinks fit, and every account shall be operated in such manner as may be authorized by the Corporation for such purpose from time to time.

45 Power to borrow   cite [+]

The Corporation may, from time to time, borrow in such form and on such terms as may be approved by the Minister with the concurrence of the Minister responsible for finance, any money required by the Corporation for meeting any of its obligations or discharging any of its duties.

46 Investment   cite [+]

The moneys of the Corporation shall, in so far as they are not immediately required to be expended by the Corporation under this Act, be invested in such manner as approved by the Minister responsible for finance.

47 Limitation on contracts   cite [+]

The Corporation shall not, without the approval of the Minister and the concurrence of the Minister responsible for finance, enter into any contract under which the Corporation is to pay or receive an amount exceeding ten million ringgit.

48 Financial procedure   cite [+]

Subject to this Act and the approval of the Minister, the Corporation shall determine its own financial procedure.

49 Financial year   cite [+]

The financial year of the Corporation shall begin on 1 January and end on 31 December of each year.


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