Malaysia legislation
Section 14
Section 14
(a)
the applicant has a minimum paid-up capital as prescribed in section 20; and
(b)
the chief executive and directors of the applicant have fulfilled the criteria as specified in the Third Schedule.
(2)
After having given due consideration to the application for registration and the conditions as referred to in subsection (1), the Registrar may register the applicant or refuse the application for registration.
(3)
The decision of the Registrar to register the applicant or refuse the application for registration shall be communicated to the applicant in a written notice issued by the Registrar as soon as practicable.
(4)
Where the Registrar refuses the application for registration in pursuance of subsection (2), he shall in the written notice issued under subsection (3) state—
(a)
that the application has been refused; and
(b)
the reasons for the refusal.
(5)
Where the Registrar is satisfied that an applicant may be registered under subsection (2), he shall, upon receipt of the prescribed registration fee, issue to the applicant a certificate of registration in such form as may be determined by him, and the certificate of registration may be subject to such conditions or restrictions as the Registrar may think fit to impose.
Credit Reporting Agencies 19
(6)
The certificate of registration shall be valid for a period not exceeding three years.
Renewal of certificate of registration