Malaysia legislation

Section 36

of *NORTHERN CORRIDOR IMPLEMENTATION AUTHORITY ACT 2008

Section 36

Power to borrow

(2)

The Authority may, from time to time, with the approval of the Prime Minister and the Minister of Finance, borrow money by the issue of any financial instrument upon such terms as it may, with the approval of the Prime Minister and the Minister of

Finance, deem expedient, for all or any of the following purposes:

(a)

the provision of working capital;

(b)

the performance of the functions, the exercise of the powers and the discharge of the duties of the Authority under this Act;

Act 687

(c)

the performance of such additional functions as may be undertaken by the Authority under this Act;

(d)

the redemption of any financial instrument which the

Authority is required or entitled to redeem; and

(e)

any other expenditure properly chargeable to capital account.

Investment