Malaysia legislation

Section 16

of Loans and Loan Guarantees Ordinance, 1999

Section 16

Any sums guaranteed under this

Ordinance are appropriated first to the payment of expenses in connection with the raising of the loans or the issue of the bonds or securities relating thereto and, subject to payment of those expenses, to the purposes for which the loans are raised:

Provided that where any part of such sum cannot be applied to the purposes aforesaid the part may be applied to such other purposes as may be approved by the Majlis Mesyuarat Kerajaan Negeri.

Section 16 — Loans and Loan Guarantees Ordinance, 1999