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Asian Infrastructure Investment Bank Act 2017 s 7

Asian Infrastructure Investment Bank Act 2017 s 7

s 7 Issue of promissory notes and other obligations

(1) The Minister may issue to the Bank in such form as he thinks fit any promissory notes or other obligations, in lieu of the amount to be paid in the Malaysian currency, provided that such amount is not required by the Bank for the conduct of its operations. (2) Such notes or obligations issued shall be non-negotiable, non-interest bearing and payable to the Bank at par value upon demand.

Malay text (authoritative)

Pengeluaran nota janji hutang dan tanggungan lain

(1) Menteri boleh mengeluarkan kepada Bank dalam apa-apa bentuk yang difikirkannya patut apa-apa nota janji hutang atau tanggungan lain, sebagai ganti kepada amaun yang kena dibayar dalam mata wang Malaysia, dengan syarat bahawa amaun itu tidak dikehendaki oleh Bank bagi penjalanan pengendaliannya. (2) Apa-apa nota atau tanggungan yang dikeluarkan itu hendaklah tidak boleh niaga, tanpa faedah dan kena dibayar kepada Bank pada nilai setara apabila diminta.

Read this section in the full act →

Find Act 786 on lom.agc.gov.my ↗

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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