Malaysia legislation

Section 46

of PENANG PORT COMMISSION ACT 1955

Section 46

The 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.

Section 46 — PENANG PORT COMMISSION ACT 1955 | mylaw.my