Malaysia legislation

Section 2

of EXTENDED CREDIT ACT 1966

Section 2

Interpretation

“extended credit arrangement” means an arrangement whereby a party to the arrangement accepts goods or services from another party and is allowed under the terms of the arrangement to delay payment of the price for the goods so accepted and the value of the services rendered together with interest thereon (if any) to some future dates;

“Minister” means the Minister of Finance.

6