Lembaga Pembangunan Langkawi Act 1990 s 23
s 23 Power to borrow
(1) The Lembaga may, from time to time, with the approval of the Minister, 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 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, borrow money by the issue of bonds, debentures or stock of such class and value and upon such terms as it may, with
the approval of the Minister, deem expedient, for all or any of the following purposes:
(a) the provision of working capital;
(b) the performance of the functions, the exercise of the powers and the discharge of the duties of the Lembaga under this Act;
(c) the performance 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 meminjam
(1) Lembaga boleh, dari semasa ke semasa, dengan kelulusan Menteri, meminjam, atas apa-apa kadar bunga dan bagi apa-apa tempoh dan atas apa-apa terma tentang masa dan cara pembayaran balik dan selainnya sebagaimana yang diluluskan oleh Menteri, apa-apa jumlah wang yang diperlukan oleh Lembaga bagi menjelaskan mana-mana obligasinya atau bagi menunaikan mana-mana kewajipannya.
(2) Lembaga boleh, dari semasa ke semasa, dengan kelulusan Menteri, meminjam wang melalui pengeluaran bon, debentur atau stok daripada apa-apa kelas dan nilai dan atas apa-apa terma yang difikirkannya suai manfaat, dengan kelulusan Menteri, bagi semua atau mana-mana maksud yang berikut:
(a) peruntukan modal kerja;
(b) pelaksanaan fungsi, penjalanan kuasa dan 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 stok yang ia dikehendaki atau berhak menebusnya; dan
(e) apa-apa perbelanjaan lain yang boleh dipertanggungkan dengan sewajarnya pada akaun modal.
Read this section in the full act → · Open Part V →
Find Act 423 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).
