Malaysia legislation
Section 10
Section 10
If the Central Bank has reason to suspect or believe that any person is transacting banking business without a licence, the Central Bank may examine the books, accounts and records of the person for purposes of ascertaining whether the person has contravened or is contravening any provision of this Act, and any refusal to submit such books, accounts or records without just cause, shall be prima facie evidence of transacting banking business without a licence.
(a)
is carrying on its business in a manner detrimental to the interest of its depositors and other creditors;
(b)
has insufficient assets to cover its liabilities to the public;