(1) The Majlis may establish any wakaf scheme or approve any person to establish or manage any scheme related to wakaf, for or in any property acquired by the Majlis or for the development of any mawquf approved by the Majlis-
(a) through cash contribution or any other contributions;
(b) by offering for sale of wakaf shares or by issuing wakaf bonds or any other instrument for valuable securities as wakaf; or
(c) for the purpose of investment.
(2) The Majlis may accept shares endowed by any person, organisation or institution provided that the business carried out is consistent with Hukum Syarak.
(3) Any property developed or usufruct and benefit from the proceeds under subsection (1) shall become wakaf am.