Housing Loans Fund Act 1971 Part II — Authorization of loan

s 2–s 3 · 2 sections

Power to raise loans

s 2

(1) The Minister of Finance is authorized, subject to the provisions of this Act, from time to time to raise in or outside the Federation sums of money for the purposes of the Housing Loans Fund of the Federation. (2) Sums of moneys raised under this Act may be raised— (a) from any source under such arrangements and upon such terms and conditions as the Minister of Finance may impose; and Laws of Malaysia A CT 42 (b) through appropriation by way of any grant or transfer of moneys made pursuant to the Development Funds Act 1966 [Act 406] from the Development Fund specified in the Second Schedule to the Financial Procedure Act 1957 [Act 61] to the Housing Loans Fund of the Federation, subject to such terms and conditions as the Minister of Finance may impose.

Loan to be charged upon the Consolidated Fund

s 3

The principal moneys raised under this Act together with all interests thereon are charged on the Consolidated Fund.

Back to Housing Loans Fund Act 1971 — full text

Provisions on this page are reproduced verbatim from official open data. See the attribution line.

Text as at 1 January 2006 (LOM reprint); amendments made after that date may not be incorporated. Read the official text ↗

Source: Laws of Malaysia, Attorney General's Chambers of Malaysia (lom.agc.gov.my). Not a copy of the Gazette printed by the Government Printer (Interpretation Acts 1948 and 1967, s 61).

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