Section 1
This Ordinance may be cited as the Treasury Bills Ordinance, 1963.
Power to borrow by the issue of Treasury Bills.
State OrdinanceIn force
Treasury Bills Ordinance 1963
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- Enacted
- 1963
- Sections
- 7
Treasury Bills Ordinance 1963 is Malaysia State Ordinance, cited as State Ordinance 1963 1963, currently marked in force and first recorded in 1963.
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TREASURY BILLS ORDINANCE, 1963
(Sabah No. 14 of 1963)
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Opening note
Preamble
- An Ordinance to provide for the borrowing of money by the issue of Treasury Bills in Sabah. [24th August, 1963.] ENACTED by the Legislature of North Borneo as follows: Short title.
Section 2
The Minister for Finance may borrow moneys by the issue in Sabah, from time to time as he may deem expedient, of Treasury Bills. The sums so borrowed shall be such that the amount of Treasury Bills issued and outstanding at any time shall not exceed five million ringgit or such further sum as may be authorised by resolution of the Legislative Assembly.
Charge upon general revenue and assets.
Section 3
(1)
The principal moneys represented by the Treasury Bills issued under this
Ordinance are hereby charged upon and shall be payable out of the general revenue and assets of Sabah.
(2)
The proceeds of such Bills shall be paid into the general revenue of Sabah.
Amounts and period of currency of Treasury Bills.
Section 4
Every Treasury Bill issued under the provisions of this Ordinance shall be for a sum of ten thousand ringgit or a multiple of ten thousand ringgit and shall be repayable at par at such time or times as the Minister for Finance shall, before each issue of Treasury Bills, fix and determine, but not later than one year from the date of issue.
Repayment of Treasury Bills.
Section 5
(1)
The Minister for Finance shall appropriate out of the general revenue and the assets of Sabah the necessary sum to pay the principal represented by the Treasury Bills
4
when they fall due.
(2)
Upon repayment of the principal moneys represented by the Treasury Bills, the
Bills shall be delivered up to the Accountant-General for cancellation by him.
Exemption from Stamp Duty.
Section 6
Notwithstanding the provisions of the Stamp Duties Ordinance [Cap. 137.] no stamp duty shall be payable on the transfer of any Treasury Bill.
Regulations.
Section 7
The Minister for Finance may make regulations prescribing the form of Treasury Bills and generally for the purposes of carrying out the provisions of this Ordinance.
Stamp Duties Ordinance, Cap. 137 (except s. 83) was repealed by act A723 which extended Stamp
Ordinance, 1949 (F.M. No. 59 of 1949) to Sabah. F.M. No. 59 of 1949 was later superseded by Stamp Act,
1949 (Act 378).
Common questions
- What is Treasury Bills Ordinance 1963?
- Treasury Bills Ordinance 1963 is Malaysia State Ordinance, cited as State Ordinance 1963 1963, currently marked in force and first recorded in 1963.
- Is Treasury Bills Ordinance 1963 still in force?
- Yes — Treasury Bills Ordinance 1963 is currently in force.
- When did Treasury Bills Ordinance 1963 take effect?
- Treasury Bills Ordinance 1963 was first recorded in 1963.
- How many sections does Treasury Bills Ordinance 1963 have?
- Treasury Bills Ordinance 1963 contains 7 sections.
- Where can I read the official version of Treasury Bills Ordinance 1963?
- The official text of Treasury Bills Ordinance 1963 is published at sagc.sabah.gov.my.
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