Lembaga Kemajuan Wilayah Kedah Act 1981 s 24
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 think 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)
Kuasa untuk meminjam
(1) Lembaga boleh dari semasa ke semasa meminjam, pada apa-apa kadar bunga dan bagi apa-apa tempoh dan atas apa-apa terma tentang masa dan kaedah pembayaran balik dan selainnya, sebagaimana yang diluluskan oleh Menteri dengan persetujuan Menteri Kewangan, apa-apa jumlah wang yang diperlukan oleh Lembaga bagi memenuhi mana-mana obligasinya atau bagi menunaikan mana-mana kewajipannya.
(2) Lembaga boleh dari semasa ke semasa, dengan kelulusan Menteri dan persetujuan Menteri Kewangan, meminjam wang melalui pengeluaran bon, debentur atau saham debentur atau mendapatkan modal dengan mengeluarkan syer atau saham daripada apa-apa kelas dan nilai dan atas apa-apa terma yang difikirkannya suai manfaat, bagi semua atau mana-mana maksud yang berikut:
(a) peruntukan modal kerja;
(b) penunaian kewajipan Lembaga di bawah Akta ini;
(c) pelaksanaan apa-apa fungsi tambahan yang diusahakan oleh Lembaga di bawah Akta ini;
(d) penebusan apa-apa syer atau saham yang ia dikehendaki atau berhak menebusnya; dan
(e) apa-apa perbelanjaan lain yang boleh dipertanggungkan dengan sepatutnya kepada akaun modal.
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Find Act 249 on lom.agc.gov.my ↗
Text as at 1 July 2015 (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).
