Section 58. Establishment of the Fund of the Majlis. (ADMINISTRATION OF ISLAMIC RELIGIOUS AFFAIRS (TERENGGANU) ENACTMENT 1422H/2001M

ENACTMENT NO. 2 OF 2001
ADMINISTRATION OF ISLAMIC RELIGIOUS AFFAIRS (TERENGGANU) ENACTMENT 1422H/2001M

PART V. - FINANCE
The Fund of the Majlis and Financial Procedure of the Majlis

Section 58. Establishment of the Fund of the Majlis.

(1) A fund to be known as the Fund of the Majlis is hereby established.

(2) The Fund of the Majlis shall consist of all moneys and property, movable or immovable, which by Hukum Syarak or under this Enactment or regulations or rules made thereunder accrue, or are contributed by any persons, to the Fund of the Majlis.

(3) All moneys and property in the Fund of the Majlis shall be vested in the Majlis which shall administer all such moneys and property in accordance with regulations made under this Enactment.

(4) Notwithstanding the regulations referred to in subsection (3), any investment, assets or funds vested in the Majlis may be sold, realised and disposed of and the proceeds thereof may be invested from time to time in any investments authorized by any written law for the time being in force for the investment of trust funds and Hukum Syarak.

(5) Subject to the provisions of this Enactment, the Majlis with the approval of Duli Yang Maha Mulia Sultan, may make regulations for the collection, administration and distribution of all of the property of the Fund of the Majlis.