Section 21
⎯(1)
of Perbadanan Pembangunan Ekonomi Sarawak Ordinance, 1958
State OrdinanceIn forceProvision 24 of 67
Section 21
Subject to subsection (2), the Corporation may borrow sums required by the Corporation for meeting any of its obligations or discharging any of its functions.
(2)
The power of the Corporation to borrow shall be exercisable only with the approval of, and subject to such conditions as may be imposed by, the Minister. Any approval given in any respect for the purposes of this subsection may be either general or limited to a particular borrowing or otherwise.
[Am. Ord. No. 19/71.]