Section 31. Expenditure and preparation of estimates. (INTELLECTUAL PROPERTY CORPORATION OF MALAYSIA ACT 2002

ACT 617
INTELLECTUAL PROPERTY CORPORATION OF MALAYSIA ACT 2002

PART V - FINANCE

Section 31. Expenditure and preparation of estimates.

(1)The expenditure of the Corporation up to such amount as may be authorized by the Corporation for any one financial year shall be defrayed out of the Fund.

(2)Before the beginning of each financial year, an estimate of the expenditure for the following financial year in such form and containing such particulars as the Minister may direct shall be submitted by the Corporation to the Minister for his approval, and the Minister shall, before the beginning of that following financial year, notify the Corporation of the amount authorized for expenditure generally or of the amounts authorized for each description of expenditure.

(3)The Corporation may, at any time, submit to the Minister a supplementary estimate for any one financial year and the Minister may allow the whole or any part of the additional expenditure included in the supplementary estimate.