Section 24
Power to borrow
of Housing Development Corporation Ordinance, 2002
State OrdinanceIn forceProvision 24 of 49
Section 24
—
(1)
The Corporation may, from time to time for the purposes of this Ordinance, raise loans from the Government or with the consent of the Majlis Mesyuarat Kerajaan Negeri, from any other source.
(2)
The Corporation shall not provide guarantee or security to secure the debt or liabilities of any company formed or established under section 12, or for any other person or party, without the prior approval of the Majlis Mesyuarat Kerajaan Negeri.