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← Farmers' Organization Authority Act 1973

Farmers' Organization Authority Act 1973 s 26

Farmers' Organization Authority Act 1973 s 26

s 26 Power to borrow

(1) The Authority may, from time to time borrow, at such rate of interest and for such period and upon such terms as to the time and method of repayment and otherwise, as the Minister with the concurrence of the Minister of Finance may approve, any sums required by the Authority for meeting any of its obligations or discharging any of its duties. (2) The Authority may, from time to time, with the approval of the Minister and the concurrence of the Minister of Finance, borrow money by the issue of bonds, debentures or debenture stock, or raise capital by the issue of shares or stock of such class and value and upon such terms as it may deem expedient, for all or any of the following purposes: (a) the provisions of working capital; (b) the fulfilling of the duties of the Authority under this Act; (c) the fulfilling of such additional functions as may be undertaken by the Authority under this Act; (d) the redemption of any shares or stock which it is required or entitled to redeem; and (e) any other expenditure properly chargeable to capital account.

Read this section in the full act → · Open Part V →

Find Act 110 on lom.agc.gov.my ↗

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

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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