(1) This Act may be cited as the International Finance Corporation Act 1957.
(2) This Act shall apply throughout Malaysia.
Act 428
International Finance Corporation Act 1957
Akta perbadanan kewangan antarabangsa 1957
An Act to enable effect to be given to an international agreement for the establishment and operation of an International Finance Corporation, and for purposes connected therewith.
Data synced
Text as at 1 January 2006 (LOM reprint); amendments made after that date may not be incorporated.
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(1) In this Act βthe Agreementβ means any agreement which may be signed and accepted on behalf of the Government of Malaysia in pursuance of Articles approved on the eleventh day of April 1955, by the executive directors of the International Bank for Reconstruction and Development and providing for the establishment and operation of an international body to be called βthe International Finance Corporationβ (copies of which Articles, and of an explanatory memorandum approved as aforesaid, have been laid before the Parliament); and βthe Corporationβ means the International Finance Corporation established by the Agreement.
(2) (Omitted).
Laws of Malaysia ACT 428
(1) There shall be paid out of the Consolidated Fund all sums required for the purpose of making payments on behalf of the Government of Malaysia under paragraph 3(a) of Article II of the Agreement (which provides for the subscription of shares of stock of the Corporation by the members thereof).
(2) All sums received by the Government of Malaysia from the Corporation in pursuance of the Agreement shall be paid into the Consolidated Fund.
The Yang di-Pertuan Agong may, by order, make such provisions as he may consider reasonably necessary for carrying into effect any of the provisions of the Agreement relating to the status, immunities and privileges of the Corporation and its governors, directors, alternates, officers and employees.
Cite this legislation
- Official citation
- Act 428
- Source
- lom.agc.gov.my
- Data synced
- Licence
- Official text, free to reproduce (Copyright Act 1987 [Act 332] s 3) β
International Finance Corporation Act 1957 [Act 428] (Laws of Malaysia, lom.agc.gov.my). Retrieved via LawPlayer, https://lawplayer.com/my/act/act-428
This text is synced from lom.agc.gov.my. In case of any discrepancy, the official version prevails.
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).