Section 3

issue such bonds, promissory notes or other instruments on such terms and conditions as to repayment, redemption or other matters (including provision for the sinking fund)

as may be determined by or with the authority of the

Minister; and

from time to time pay by way of instalments the price for goods received or the value of services rendered and interest chargeable thereon in accordance with the extended credit arrangements.

For the purpose of section 2 of the *Development Fund

Ordinance 1958 [Ord. 18 of 1958], the price for goods received or the value of services rendered under any extended credit arrangement entered in pursuance of this section shall be treated as moneys.

The price for goods received and the value of services rendered under the terms of extended credit arrangements entered into under this section shall not in the aggregate exceed the sums 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.

Any agreement entered into in respect of any extended credit arrangements under the powers conferred by subsection (1)

shall be made in the name of the Federation and may be signed on behalf of the Federation by the Minister or by any person authorised thereto in writing by the Minister.

*NOTE—The Development Fund Ordinance 1958 [Ord. 18 of 1958] has since been repealed by the Development Funds Act 1966 [Act 406]–see section 10 of Act 406.

7

Extended Credit

Any agreement entered into in respect of any extended credit arrangements under the powers conferred by subsection (1) 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.

Implementation of obligations under any extended credit arrangement