Malaysia legislation

Section 26

of Local Loans Ordinance 1959

Section 26

The Financial Secretary may make regulations generally for carrying out the provisions of this Ordinance and, in particular, such regulations may provide for :-

(a)

registering debentures or stock in registers;

(b)

the persons who may be registered as stock-holders or debenture holders;

(c)

the method by which any payment in respect of stock or debentures shall be made;

(d)

the method by which stock may be transferred;

(e)

the method by which debentures or stock may be redeemed by purchase in the market, by conversion or otherwise or debentures may be redeemed by annual drawing;

(f)

the registration, payment of interest, repayment of principal, and transfer of stock or debentures in the case of persons who are under legal disability;

(g)

the replacement of lost certificates;

(h)

the circumstances in which alterations may be made in registers;

10

(i)

the disposal of unclaimed interest;

(j)

the conditions subject to which stock or debentures may be exchanged, consolidated or subdivided;

(k)

the fees to be paid in respect of anything to be issued or done under the provisions of this Ordinance.

Repeal.

Section 26 — Local Loans Ordinance 1959 | mylaw.my