s 48 Loans to be first charge on revenue and assets
Every loan granted under sections 41 and 47 shall, subject to any prior charge, be a first charge upon the revenues and assets of the local authority obtaining such loan.
Local Government Act 1976 s 48
Local Government Act 1976 s 48
Sections 85–93 were repealed by later amendments.
Malay text (authoritative)
Pinjaman menjadi tanggungan pertama atas hasil dan aset
Tertakluk kepada apa-apa gadaian yang terdahulu, tiap-tiap pinjaman yang diberi di bawah seksyen 41 dan 47 hendaklah menjadi tanggungan yang pertama ke atas hasil dan aset pihak berkuasa tempatan yang mendapatkan pinjaman itu.
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
Local Government Act 1976, full textChapter navigation and full text, so you can read this section in contextMalaysia legislationMalaysia Acts by type and yearGrouped by instrument type and year of enactment, so you can find others of the same kindBrowse by type and yearPart V — General financial provisions — read this in contextThe surrounding text of the act in order, so you can see what comes before and afterChapters and sections