Section 27
of Sabah Tourism Board Enactment 1981
State EnactmentIn forceProvision 27 of 49
Section 27
(1)
The Board may, from time to time, with the approval of the Minister of Finance, borrow money by the issue of debenture stock or otherwise as the Minister of Finance may direct for the purposes of this Enactment.
(2)
The Board may, from time to time, for the purpose of this Enactment, raise loans from the Government, or with the consent of the Minister of Finance, borrow by way of a temporary loan or overdraft from a bank licensed under the provisions of the Banking and Financial
Institutions Act 1989 [Act 372.] , or otherwise.
Loans may be secured by mortgage.