In forceUpdated to 1 Jan 2006Current version · Updated to 1 Jan 2006
Penang Port Commission Act 1955 · Updated to 1 Jan 2006 · Part IV · Financial Provisions
46. Power to borrow money, and secure loans by mortgage
Feedback & supportThe Commission may, from time to time, subject to the approval of the Minister, borrow, by way of overdraft or otherwise, such sums as it may require for meeting its obligations and discharging its functions under this Act and may secure the repayment of any sum borrowed by the mortgage or charge, legal or equitable, of any property vested in the Commission, or of any revenue receivable by the Commission under this Act.
Commission
Defined · s 2
“Commission” means the Penang Port Commission established and incorporated under this Act;