Government Trustee Securities Act 1957

This Act may be cited as the Government Trustee Securities Act 1957.

Interpretation

“Colonial Stock Acts” means the Acts of the Imperial Parliament known as the Colonial Stock Acts, 1877 to 1948 [40 and 41 Vict. C.

59; 55 and 56 Vict. C. 35, 63 and 64 Vict. C. 62; 24 and 25 Geo. 5 c.

47]

“Crown Agents” means the person or persons for the time being acting as

Crown

Agents for

Oversea

Governments and

Administrations in England or any one of them.

This Act shall apply to all securities heretofore created or issued or deemed to have been created or issued on behalf of the

Government of Malaysia or hereafter created or issued on behalf of the Government of Malaysia to which for the time being the Colonial

Stock Acts apply and which are for the time being registered in the

6 Laws of Malaysia ACT 426

United Kingdom in accordance with those Acts, each and all of which securities are hereinafter referred to as “Federal Government securities”:

Provided that this Act shall not apply to securities issued after the commencement of the External Loans Act 1963 [Act 403].

Malaysia in respect of any Federal Government securities, the

Government shall forthwith pay that sum out of the funds in the hands of the Crown Agents belonging to the Government, without further appropriation than this Act.

In order to enable every such payment to be duly made, a certificate under the hands of the Crown Agents, specifying the sum so paid under order of any such court, shall be sufficient authority to the Auditor General or other officer having the auditing of their accounts for passing such sum without further appropriation.

Certain legislation to be agreed with the United Kingdom

Government

United Kingdom to alter any of the provisions affecting Government securities to the injury of holders or to involve a departure from the original contract in regard to those securities, shall not be submitted for assent except after agreement with Her Majesty’s Government in the United Kingdom, and if attention is drawn to any such legislation as aforesaid after the passing thereof, the Government of Malaysia

Government Trustee Securities 7

shall take the necessary steps to ensure such amendment as may be requested by Her Majesty’s Government in the United Kingdom.

(Omitted).

8

Act 426

LIST OF AMENDMENTS

Amending law

Short Title

In force from

Act 22/1963

External Loans Act 1963

15-06-1963

____________

9

Act 426

LIST OF SECTIONS AMENDED

Section

Amending authority

In force from

3

Act 22/1963 15-06-1963

_____________