Malaysia legislation

Section 9

of *LOAN (LOCAL) ACT 1959

Section 9

Payment of interest

(2)

The Minister shall in each half-yearly period ending with the day on which interest on stock issued under this Act falls due, appropriate out of the Consolidated Fund a sum equal to one half-year’s interest on the whole of the stock so issued in order that the interest for the half-year may be paid from it.

*NOTE—The Central Bank of Malaysia Act 1958 [Act 519] has since been repealed by the Central Bank of Malaysia Act 2009 [Act 701]–see section 3 of Act 701.

18 Laws of Malaysia ACT 637

Authorization of Bank