Malaysia legislation
Section 5
Section 5
(2)
Notwithstanding anything contained in the written law by which a body corporate is established, the body corporate may charge or mortgage all or any of its property (movable or immovable), undertaking or revenue to secure any sum raised by way of loan and guaranteed under this Act.
Loans Guarantee (Bodies Corporate)
7
Restriction on borrowing powers of body corporate so long as guarantee outstanding