Kemubu Agricultural Development Authority Act 1972 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 Authority 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 may approve, any sums required by the Authority for meeting any of its obligations or discharging any of its duties.
(2) The Authority may, from time to time, with the approval of the Minister, 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 provisions of working capital;
(b) the fulfilling of the duties of the Authority under this Act;
(c) the fulfilling of such additional functions as may be undertaken by the Authority 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 yarat tentang masa dan cara pembayaran balik dan selainny ebagaimana yang diluluskan oleh Menteri, apa-apa jumlah wans yang diperlukan oleh Lembaga bagi menjelaskan mana-mana
bagi menjalankan daripada obligasinya atau mana-mana kewajipannya.
(2) Lembaga boleh, dari semasa ke semasa, dengan kelulusan Menteri, meminjam wang dengan mengeluarkan bon, debentur segala atau mana-mana daripada maksud yang berikut: mengadakan modal kerja;
(b) menunaikan kewajipan Lembaga di bawah Akta ini;
(c) menunaikan apa-apa fungsi tambahan yang dijalankan oleh Lembaga di bawah Akta ini; menebus apa-apa syer atau saham yang ia dikehendaki atau berhak menebusnya; dan apa-apa perbelanjaan lain yang boleh dipertanggungkan dengan sepatutnya pada akaun modal. Pelaburan
Read this section in the full act → · Open Part V →
Find Act 69 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).
