Section 14
Loan conditions
of Jurong Town Corporation Act 1968
ActIn forceProvision 14 of 72
Section 14
(1)
Where the Corporation is authorised to borrow money, the Corporation may, subject to the Minister’s approval or direction, raise money in any manner and, in particular, raise it by —
(a)
mortgage;
(b)
charge, whether legal or equitable, on any property vested in the Corporation or on any revenue receivable by the Corporation under this Act or any other written law; and
(c)
debentures, stocks, bonds or other instruments or securities issued by the Corporation.
(2)
The Corporation may, with the Minister’s approval or direction, fix such rates of interest and such terms, conditions and periods to secure the repayment of the sums borrowed as it thinks fit.