Malaysia legislation

Section 4

of *LOAN (LOCAL) ACT 1959

Section 4

(2)

In this section ―debt charges‖ includes interest, sinking fund charges, the repayment or amortization of debt, and all expenditure in connection with the raising of the loans and the service and redemption of debt created by it.

(3)

All expenditure in connection with the purchase, conversion and cancellation of stock made in accordance with this Act are charged upon and payable out of the Consolidated Fund.

*NOTE—Not exceeding ninety thousand million ringgit at any one time–see P.U. (A) 195/1990.

Loan (Local) 11

Application of loan

Section 4 — LOAN (LOCAL) ACT 1959 | mylaw.my