Malaysia legislation

Section 24

of LEMBAGA KEMAJUAN TERENGGANU TENGAH ACT 1973

Section 24

(2)

The Lembaga may, from time to time, with the approval of the Minister and the concurrence of the Minister of Finance, 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 Lembaga under this Act;

(c)

the fulfilling of such additional functions as may be undertaken by the Lembaga 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.