Power to raise loan
(1) The Minister may from time to time raise, by the issue of stock in the manner hereinafter provided, a sum of money not exceeding in the whole the sum of two hundred million ringgit to be applied in the manner provided and such further sums as may be necessary to defray the expenses of issues of stock or Treasury Bills under this Act. (2) The loan hereby authorized shall be raised in Malaysia by the issue of registered stock under Part III.
Principal and interest charged on Consolidated Fund
The principal moneys and interest represented by stock issued under this Act are charged upon and shall be payable out of the Consolidated Fund.
Application of loan
The money raised under this Act other than sums required to defray the expenses of issues of stock or Treasury Bills under this Act shall be paid into the Development Fund specified in the Second Schedule to the Financial Procedure Act 1957 [Act 61] and shall be applied only to the purposes of such fund.
(Deleted by Ord. No. 18 of 1958).
Provisions on this page are reproduced verbatim from official open data. See the attribution line.
Text as at 30 March 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).