Malaysia legislation

Section 18

of Port Authority Ordinance, 1961 ( Ord. No. 1/61 )

Section 18

⎯(1) Subject to this section and to the approval of the Majlis

Mesyuarat Kerajaan Negeri, which approval may be general or special, a Port Authority may borrow, by way of loan, overdraft or otherwise, such sums of money as it may require for meeting its obligations and discharging its functions.

[Am. Ord. No. 9/76; Am. Cap. A28.]

(2)

Any moneys borrowed in pursuance of subsection (1) shall be borrowed upon such terms and conditions as may be approved by the Majlis Mesyuarat Kerajaan Negeri.

Accounts

Read in full context — Port Authority Ordinance, 1961 ( Ord. No. 1/61 ) →