My bookmarksSign up free
← Penang Port Commission Act 1955

Penang Port Commission Act 1955 s 45

Penang Port Commission Act 1955 s 45

Some sections could not be extracted from the official PDF, so this text may be incomplete.

s 45 Power to issue stock, etc.

(1) The Commission may, from time to time, with the approval of the Minister, borrow money by the issue of debentures or debenture stock upon such terms as it may deem expedient, for all or any of the following purposes: (a) the provision of working capital; (b) the fulfilling of the functions of the Commission under this Act; (c) the repayment of existing loans; (d) the redemption of existing debentures or debenture stock which it is required or entitled to redeem; and (e) any other expenditure properly chargeable to capital account. (2) The Commission may make rules not inconsistent with this Act to provide for such matters in connection with debentures or debenture stock issued under this Act as may appear necessary or expedient to the Commission, and, in particular, for regulating the method of issue, transfer, or other dealing with the debentures or debenture stock.

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

Find Act 140 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).

What to look at next