Loan Guarantee Act 1963

• Jurisdiction: Malaysia
• Coming into Force: 11 April 1963
• Citation: Act 412
• Date: 01 January 2006

Contenidos

• Loan Guarantee
• LAWS OF MALAYSIA
• REPRINT
• LOAN GUARANTEE
• ACT 1963
• PUBLISHED BY
• THE COMMISSIONER OF LAW REVISION, MALAYSIA
• UNDER THE AUTHORITY OF THE REVISION OF LAWS ACT 1968
• IN COLLABORATION WITH
• PERCETAKAN NASIONAL MALAYSIA BHD
• LOAN GUARANTEE ACT 1963
• PREVIOUS REPRINT
• LAWS OF MALAYSIA
• LOAN GUARANTEE ACT 1963
• ARRANGEMENT OF SECTIONS
• Section
• Loan Guarantee
• LAWS OF MALAYSIA
• LOAN GUARANTEE ACT 1963
• Short title and application
• Application of the Loans (International Bank) Act 1958
• Ratification of Agreement of Guarantee
• Extension to other companies
• Loan Guarantee
• LAWS OF MALAYSIA
• LOAN GUARANTEE ACT 1963
• LIST OF AMENDMENTS
• LAWS OF MALAYSIA
• LOAN GUARANTEE ACT 1963
• LIST OF SECTIONS AMENDED

1

Loan Guarantee

LAWS OF MALAYSIA

REPRINT

LOAN GUARANTEE

ACT 1963

Incorporating all amendments up to

PUBLISHED BY

THE COMMISSIONER OF LAW REVISION, MALAYSIA

UNDER THE AUTHORITY OF THE REVISION OF LAWS ACT 1968

IN COLLABORATION WITH

PERCETAKAN NASIONAL MALAYSIA BHD

2006

2

LOAN GUARANTEE ACT 1963

First enacted … ... ... ... … … … 1963 (Act No. 14 of

1963)

Revised … … … … … … … 1989 (Act 412 w.e.f

)

PREVIOUS REPRINT

First Reprint ... ... ... ... ... 2001

3

LAWS OF MALAYSIA

LOAN GUARANTEE ACT 1963

ARRANGEMENT OF SECTIONS

Section

1. Short title and application

2. Application of the Loans (International Bank) Act 1958

3. Ratification of Agreement of Guarantee

4. Extension to other companies

4 Laws of Malaysia ACT 412

5

Loan Guarantee

LAWS OF MALAYSIA

LOAN GUARANTEE ACT 1963

An Act to provide for the application of certain provisions of the

Loans (International Bank) Act 1958, to a guarantee by Malaysia of

a loan by the International Bank for Reconstruction and Development

to Malaysian Industrial Development Finance Limited and for

matters connected therewith.

[Peninsular Malaysia—

;

Sabah and Sarawak—

]

BE IT ENACTED by the Seri Paduka Baginda Yang di-Pertuan

Agong with the advice and consent of the Dewan Negara and Dewan

Rakyat in Parliament assembled, and by the authority of the same,

as follows:

Short title and application

1. (1) This Act may be cited as the Loan Guarantee Act 1963.

(2) This Act shall apply throughout Malaysia.

Application of the Loans (International Bank) Act 1958

2. (1) The following provisions of the Loans (International Bank)

Act 1958 [Act 411], namely—

(a) section 7 (which authorizes the Government to give

guarantees and undertakings with respect to borrowings

by statutory authorities from the International Bank for

Reconstruction and Development); and

(b) so far as they relate to guarantees and undertakings by the

Government, sections 11 and 12 (which contain

supplementary provisions for the implementation, among

other things, of any such guarantee or undertaking), save

that for the words “1950” in subsection 12(5), there shall

be substituted therefor the words “1960”,

6 Laws of Malaysia ACT 412

shall apply in relation to any borrowing from that Bank by the

company called Malaysian Industrial Development Finance Limited

as if the company were a statutory authority within the meaning of

that Act, and the borrowing were made under subsection 5(1) of the

Act.

(2) If any sum is paid out of the Consolidated Fund in respect of

any liability incurred by the Government by virtue of subsection (1),

The Minister shall as soon as possible after the end of each financial

year beginning with that in which the sum was paid and ending with

that in which all liability in respect thereof and any interest payable

thereon is finally discharged by the company, lay before the Dewan

Rakyat a statement relating thereto.

(3) The said paragraphs 12(2)(a) and (b) (which provides for

exemptions from taxation and from exchange control) shall also

apply in relation to any agreement concluded, whether before or

after the passing of this Act, with the Bank by the company, with the

approval of the Government, in respect of any borrowing by the

company from the Bank, and to any bond, promissory note or

instrument issued by the company pursuant to any such agreement,

as they apply to the agreements and instruments there mentioned.

Ratification of Agreement of Guarantee

3. The agreement of guarantee heretofore concluded between the

Government in the name of the Federation of Malaysia and the Bank

is hereby ratified and validated in all respects and shall have effect

for all purposes as if this Act had been in force on such date and the

said agreement had been duly concluded and executed in exercise of

the powers conferred by or under this Act.

Extension to other companies

4. If a resolution be passed by the Dewan Rakyat that section 2 of

this Act shall apply to any company, as they apply to the Malaysian

Industrial Development Finance Limited, then the Minister may, by

Order to be published in the Gazette, declare that the said provision

shall apply to that company.

7

Loan Guarantee

LAWS OF MALAYSIA

LOAN GUARANTEE ACT 1963

LIST OF AMENDMENTS

Amending law Short title In force from

– NIL –

8 Laws of Malaysia ACT 412

LAWS OF MALAYSIA

LOAN GUARANTEE ACT 1963

LIST OF SECTIONS AMENDED

Section Amending authority In force from

– NIL –

DICETAK OLEH

PERCETAKAN NASIONAL MALAYSIA BERHAD,

KUALA LUMPUR

BAGI PIHAK DAN DENGAN PERINTAH KERAJAAN MALAYSIA