Section 2

for the purposes of the Federal Development Fund or some one or more of those purposes; or

for the repayment or amortization of loans raised outside

Malaysia, whether under this section or not.

6

Any sums raised by way of loan under this section are hereby appropriated first to the payment of the expenses in connection with the raising of the loan, and subject to payment of those expenses, to the purposes for which the loan is raised; but if the sums so raised for the repayment or amortization of any loan exceed the amounts required for that purpose after the application thereto of any amounts available in a sinking fund relating to the loan, then the excess shall be applied and is hereby appropriated to the redemption, at such times and in such manner as the Minister may determine, of securities of Malaysia.

The sums raised under this section shall not exceed the sum specified from time to time by the Yang di-Pertuan Agong by order published in the Gazette and such order shall as soon as possible after its publication be laid by the Minister before the

Dewan Rakyat; and in applying this subsection sums raised in a currency other than ringgit shall be converted into ringgit as at the day when the amount to be raised is determined and by the use of such rate of exchange as the Governor of Bank Negara may certify to be then appropriate.

Any agreement entered into in respect of sums raised under this Act shall be made in the name of Malaysia and may be signed on behalf of Malaysia by the Minister or by any person authorized thereto in writing by the Minister.

The Loan Ordinance 1953 [Ord. 56 of 1953], is hereby repealed.