Malaysia legislation
Section 49
Section 49
(2)
In making loans under the provisions of subsection (1) the Board may charge such rate of interest as it may deem fit in any particular case.
(3)
Every loan shall be repaid to the Board in accordance with the terms and conditions under which such loan was made and the money so paid shall thereupon be taken into the accounts of the Board.
(4)
Every mortgage to secure loan and every instrument or charge under the provisions of this Act shall be approved by the Board and all costs, charges and expenses incurred in connection therewith shall be paid by the person to whom the loan is made.