Lembaga Kemajuan Kelantan Selatan Act 1978 s 24
Text recovered by OCR from a scanned copy — section numbers and wording may be wrong. Check the official PDF on lom.agc.gov.my before citing.
s 24 Power to borrow
(1) The Lembaga 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 Lembaga for meeting any of its obligations or discharging any of its duties.
(2) The Lembaga 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 provision of working capital;
(b) the fulfilling of the duties of the Lembaga under this Act;
(c) the fulfilling of such additional functions as may be undertaken by the Lembaga 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.
Malay text (authoritative)
(1) Lembaga boleh dari semasa ke semasa meminjam, atas apa-apa kadar bunga dan bagi apa-apa tempoh dan atas apa-apa syarat tentang masa dan cara pembayaran balik dan selainnya yang diluluskan oleh Menteri dengan persetujuan Menteri Kewangan, apa-apa jumlahwang yang diperlukan oleh Lembaga bagi menjelaskan mana-mana tanggungannya atau bagi menjalankan mana-mana kewajıpannya.
(2) Lembaga boleh dari semasa ke semasa, dengan kelulusan Menteri dan persetujuan Menteri Kewangan, meminjam wang dengan mengeluarkan bon, dibentur atau saham dibentur atau mendapatkan modal dengan mengeluarkan syer atau saham dari apa-apa kelas dan nilai dan atas apa-apa syarat yang difikirkannya bermenafaat, bagi semua atau mana-mana maksud yang berikut:
(a) peruntukan modal kerja;
(b) menunaikan kewajipan-k ewajipan Lembaga di bawah Akta ini;
(c) menunaikan apa-apa tugas tambahan yang dijalankan oleh Lembaga di bawah Akta ını;
[Bah. V, S. 24-291
(d) menebus apa-apa syer atau saham yang ia dikehendaki atau berhak menebus; dan
(e) apa-apa perbelanjaan lain yang boleh dipertanggungkan dengan sewajarnya kepada akaun modal.
Read this section in the full act → · Open Part V →
Find Act 203 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).
