9/18/2019 DRAFT OF THE MEDIA COUNCIL ACT MARCH 2019 (4) Nothing in sub-section (1) shall be deemed to empower the Council to hold an inquiry into any matter in respect of which any proceeding is pending in a court of law. 19. Mediation of disputes (1) The Council may appoint a mediator to attempt to facilitate a settlement of the dispute by way between the parties to the dispute. (2) The mediation process shall be voluntary and shall be conducted in accordance with Mediation Act 2012 and the procedure AIAC (Asian International Arbitration Centre) Mediation Rules Part 5 – General 20. Fund of the Council (1) The Council shall have its own fund; and fees collected by it, and all grants made to it, by any other authorities, persons or foundations, shall be credited to the Fund and all payments by the Council shall be made there from. (2) All monies belonging to the Fund shall be deposited in such banks or invested in such manner as may be decided by the Council. (3) The Council may spend such sums as it thinks fit for performing its functions under this Act, and such sum shall be treated as expenditure payable out of the Fund of Council. a. Budget: The Council shall prepare once every year and at such time each year as may be prescribed, a budget in respect of the financial year next ensuing showing the estimated receipts and expenditure, and copies thereof shall be forwarded to the Federal Government. b. Annual Report: The Council shall prepare once every year, in such form and at such time as may be prescribed, an annual report, giving a summary of its activities during the previous year, and giving an account of the standards of newspapers, news agencies and broadcasting stations and factors affecting them, and copies thereof together with the statement of accounts audited in the manner prescribed under Section 21 and shall be laid before Parliament. c. Interim Report: The Council may prepare at any time during the course of the year, a report giving a summary of such of its activities during the year as it considers to be of public importance and copies thereof be laid before Parliament. d. Accounts and Audit: The accounts of the Council shall be maintained and audited in such manner as may. In consultation with the Auditor General of Malaysia, be prescribed. 21. Application of Act 240 https://docs.google.com/document/d/e/2PACX-1vTQHOj6esm_LYu7fWu5A2JoJPEPe0REt-QLDK-zoiy4iDweb0JuVmKtMOGuT_JsQ85h_icuE4KlH6Xb/pub 11/13