s 16
(Deleted by Ord. No. 18 of 1958).
Loan (Local) Act 1957 Part IV — General
Power to issue Treasury Bills and to repay expenditure in respect thereof from loan
s 17
(1) In anticipation of raising any loan or any part of any loan under the authority of this Act, the Minister may, if he thinks fit, raise such sum not exceeding the amount of such loan or part of a loan as he may deem necessary by the issue of Treasury Bills under the Treasury Bills (Local) Act 1946 [Act 188]. (2) Every sum raised under subsection (1) shall be applied in the manner authorized for the loan or part of the loan in respect of which such sum is raised and upon the raising of such loan or part of such loan the Minister may— (a) expend from it such amounts as may from time to time be necessary to meet the liabilities of the Government in respect of any Treasury Bills issued under subsection (1); or (b) where any such liabilities in respect of Treasury Bills have been met in the first instance out of the Consolidated Fund, refund to the Consolidated Fund such sums as may have been expended from it for that purpose.
Back to Loan (Local) Act 1957 — full text
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).
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