Section 23
Power to borrow
of Lembaga Pembangunan Langkawi Act 1990
(2)
The Lembaga may from time to time, with the approval of the Minister, borrow money by the issue of bonds, debentures or stock of such class and value and upon such terms as it may, with the approval of the Minister, 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 Lembaga under this
Act;
(c)
the performance of such additional functions as may be undertaken by the Lembaga under this Act;
20 Laws of Malaysia ACT 423
(d)
the redemption of any shares or stock which it is required or entitled to redeem; and
(e)
any other expenditure properly chargeable to capital account.