Local Government Act 1976 · Updated to 1 Dec 2012 · Part V · General Financial Provisions
48. Loans to be first charge on revenue and assets
Feedback & supportEvery loan granted under sections 41 and 47 shall, subject to any prior charge, be a first charge upon the revenues and assets of the local authority obtaining such loan.
Advances by way of overdraft
42 Laws of Malaysia ACT 171