LOAN (INTERNATIONAL TIN BUFFER STOCK) ACT 1971

041e.fm Page 1 Monday, March 27, 2006 3:30 PM LAWS OF MALAYSIA REPRINT Act 41 LOAN (INTERNATIONAL TIN BUFFER STOCK) ACT 1971 Incorporating all amendments up to 1 January 2006 PUBLISHED BY THE COMMISSIONER OF LAW REVISION , MALAYSIA UNDER THE AUTHORITY OF THE REVISION OF LAWS ACT 1968 IN COLLABORATION WITH MALAYAN LAW JOURNAL SDN BHD AND PERCETAKAN NASIONAL MALAYSIA BHD 2006 041e.fm Page 2 Monday, March 27, 2006 3:30 PM 2 LOAN (INTERNATIONAL TIN BUFFER STOCK) ACT 1971 Date of Royal Assent … … … … 30 August 1971 Date of publication in the Gazette … … 2 September 1971 PREVIOUS REPRINTS First Reprint … … … … … 1993 Second Reprint … … … … 1999 PREPARED FOR PUBLICATION BY MALAYAN LAW JOURNAL SDN BHD AND PRINTED BY PERCETAKAN NASIONAL MALAYSIA BERHAD KUALA LUMPUR BRANCH 2006 041e.fm Page 3 Monday, March 27, 2006 3:30 PM 3 LAWS OF MALAYSIA Act 41 LOAN (INTERNATIONAL TIN BUFFER STOCK) ACT 1971 ARRANGEMENT OF SECTIONS Section 1. Short title and commencement 2. Interpretation 3. Power to raise loan 4. Loan to be charged upon the Consolidated Fund 5. Application of loan 6. Repayment of loan 041e.fm Page 4 Monday, March 27, 2006 3:30 PM 041e.fm Page 5 Monday, March 27, 2006 3:30 PM Ministerial Functions 5 LAWS OF MALAYSIA Act 41 LOAN (INTERNATIONAL TIN BUFFER STOCK) ACT 1971 An Act to authorize the borrowing of a sum not exceeding the sum of ninety-two million ringgit in order to finance the payment of Malaysia’s share in the Buffer Stock to be established under Article 20 of the International Tin Agreement 1971, and for purposes incidental thereto. [Throughout Malaysia—1 July 1971] 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 commencement 1. This Act may be cited as the Loan (International Tin Buffer Stock) Act 1971 and shall be deemed to have come into force on 1 July 1971. Interpretation 2. In this Act unless the context otherwise requires— “Buffer Stock” means the Buffer Stock established under Article 20 of the International Tin Agreement 1971; “Fourth Buffer Stock” means the Buffer Stock to be established under Article 20 of the International Tin Agreement 1971; “Minister” means the Minister for the time being charged with responsibility for finance; “tin concentrates” has the meaning assigned to the term by the Tin Control Act 1954 [Act 362]. 041e.fm Page 6 Monday, March 27, 2006 3:30 PM 6 Laws of Malaysia A CT 41 Power to raise loan 3. (1) The Minister is authorized, subject to this Act, from time to time to raise within or outside Malaysia a sum of money not exceeding in the whole the sum of ninety-two million ringgit. (2) All moneys raised under this Act shall be raised by way of loans, within or outside Malaysia, and upon such terms and conditions as the Minister may think fit. Loan to be charged upon the Consolidated Fund 4. The principal moneys raised under this Act together with all interest thereon are charged on the Consolidated Fund. Application of loan 5. The moneys raised under this Act shall be applied and are appropriated for the purposes of paying Malaysia’s contribution to the Fourth Buffer Stock; and the Minister may apply any of such moneys to the purchase of tin metal to the extent that Malaysia is required or permitted to contribute tin metal to the Fourth Buffer Stock. Repayment of loan 6. (1) Notwithstanding subsection 13(2) of the Financial Procedure Act 1957 [Act 61], sums raised under this Act together with interest due thereon shall be repaid from the proceeds of any levy payable on tin concentrates mined in the Federation and imposed expressly for this purpose. (2) If the whole sum raised under this Act together with interest due thereon has not been repaid within two years from the date of expiry of the International Tin Agreement 1971 the Minister shall appropriate out of the Consolidated Fund and repay the sum outstanding together with interest due thereon. 041e.fm Page 7 Monday, March 27, 2006 3:30 PM 7 LAWS OF MALAYSIA Act 41 LOAN (INTERNATIONAL TIN BUFFER STOCK) ACT 1971 LIST OF AMENDMENTS Amending law Short title In force from Act 160 Malaysian Currency (Ringgit) Act 1975 29-08-1975 041e.fm Page 8 Monday, March 27, 2006 3:30 PM 8 LAWS OF MALAYSIA Act 41 LOAN (INTERNATIONAL TIN BUFFER STOCK) ACT 1971 LIST OF SECTIONS AMENDED Section Amending authority – NIL – In force from