Section 34. Power to borrow. (INTELLECTUAL PROPERTY CORPORATION OF MALAYSIA ACT 2002

ACT 617
INTELLECTUAL PROPERTY CORPORATION OF MALAYSIA ACT 2002

PART V - FINANCE

Section 34. Power to borrow.

(1)The Corporation may, from time to time, with the prior approval of the Minister and the Minister of Finance, borrow, at such rate of interest and for such period and upon such terms as to the time and method of repayment and otherwise as the Minister and the Minister of Finance may approve, any sums required by the Corporation for meeting any of its obligations or performing any of its functions under this Act.

(2)The Corporation may, from time to time, with the prior approval of the Minister and the Minister of Finance, borrow money by the issue of bonds, debenture, debenture stocks or such other securities upon such terms as it deems expedient for meeting any of its obligations or performing any of its functions under this Act.