Section 17

Power to issue Treasury Bills and to repay expenditure in respect thereof from loan

of Loan (Local) Act 1957

ActIn forceProvision 12 of 12

(1)

In anticipation of raising any loan or any part of any loan under the authority of this Act, the Minister may, if he thinks fit, raise such sum not exceeding the amount of such loan or part of a loan as he may deem necessary by the issue of Treasury Bills under the Treasury Bills (Local) Act 1946 [Act 188].

(2)

Every sum raised under subsection (1) shall be applied in the manner authorized for the loan or part of the loan in respect of which such sum is raised and upon the raising of such loan or part of such loan the Minister may—

(a)

expend from it such amounts as may from time to time be necessary to meet the liabilities of the Government in respect of any Treasury Bills issued under subsection (1);

(b)

where any such liabilities in respect of Treasury Bills have been met in the first instance out of the Consolidated Fund, refund to the Consolidated Fund such sums as may have been expended from it for that purpose.

FIRST SCHEDULE

[Section 2]

No.

Title

F.M.S. Cap 128

The Loan Enactment

[Repealed by Act 70/1965]

F.M.S. Enactment No. 12/1936

The Federated Malay States

Loan Enactment 1936

F.M.S. Enactment No. 16/1940

The War Loan Enactment 1940

[Repealed by Act 70/1965]

F.M.S. Enactment No. 9/1941

The War Loan Enactment 1941

[Repealed by Act 70 of 1965]

Malayan Union Ordinance No.

The Loan Ordinance 1946 10/1946