Malaysia legislation
Section 29
of Korporasi Kemajuan Perikanan Nelayan Sabah (KO-NELAYAN) Enactment1981
Section 29
(1)
The Corporation may, from time to time, with the approval of the Minister of
Finance, borrow money by the issue of debenture stock or otherwise as the Minister of
―Banking and Financial Institutions Act 1989‖ substituted for ―Banking Act 1973‖ by virtue of Act 372.
15
Finance may direct for the purposes of this Enactment.
(2)
The Corporation may, from time to time, for the purpose of this Enactment, raise loans from the Government or with the consent of the Minister of Finance, borrow by way of a temporary loan or overdraft from a bank licensed under the provisions of the Banking and
Financial Institutions Act 1989 [Act 372.], or otherwise.
Loans may be secured by mortgage.