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← Loans (Asian Development Bank) Act 1968

Loans (Asian Development Bank) Act 1968 s 8

Loans (Asian Development Bank) Act 1968 s 8

s 8 Restriction on borrowing powers of statutory authority so far as guarantee outstanding

So long as the Government shall continue liable under any guarantee or other undertaking given in exercise of the powers conferred by subsection 7(1) in respect of any borrowing by a statutory authority the statutory authority shall not except with the consent of the Minister exercise any other power to borrow possessed by it.

Malay text (authoritative)

Sekatan ke atas kuasa pihak berkuasa berkanun meminjam selagi jaminan masih belum selesai

Selagi Kerajaan masih bertanggungan di bawah apa-apa jaminan atau aku janji lain yang diberi bagi menjalankan kuasa yang diberi Undang-Undang Malaysia AKTA 410 oleh subseksyen 7(1) mengenai apa-apa peminjaman pihak berkuasa berkanun, pihak berkuasa berkanun itu tidak boleh menjalankan apaapa kuasa lain untuk meminjam yang ada padanya, melainkan dengan persetujuan Menteri.

Read this section in the full act →

Find Act 410 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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