Malaysia legislation
Section 12
Section 12
Restriction on financial dealings
(a)
give financial assistance to any company, body or person by the taking up of shares or debentures or by way of loan, advance, grant or otherwise;
(b)
purchase, underwrite or otherwise acquire any stocks and shares in any public or private company; or
(c)
borrow money, or enter into any guarantee or indemnity involving financial liability.
(2)
In giving any consent under subsection (1), the Governments may jointly impose such terms and conditions as they may deem appropriate.
Liability of Joint Authority not the responsibility of Governments