Malaysia legislation
Section 8
Section 8
(2)
Without prejudice to the generality of subsection (1), the powers of the Commission shall include the power to—
(a)
regulate all matters relating to consumer credit;
(b)
regulate and supervise persons carrying on credit business and credit service business regulated by the Commission;
(c)
impose prescribed fees in the performance of its functions or exercise of its powers;
(d)
examine the business and affairs of a credit provider or credit service provider regulated by the Commission;
(e)
impose monetary penalty under section 106;
(f)
cause an investigation to be made and exercise all the powers of investigation on matters relating to credit business or credit service business regulated by the Commission;
Consumer Credit 21
(g)
specify standards or guidelines under section 123
on matters relating to consumer credit regulated by the Commission;
(h)
utilize all the movable and immovable property of the Commission in such manner as the Commission may think expedient, including the raising of funds by mortgaging such property;
(i)
establish and authorise a committee consisting of members as may be determined by the Commission for the purpose of performing any of its functions or exercising any of its powers under this Act;
(j)
appoint and remunerate such agents, experts or consultants as it deems fit to assist the Commission in the performance of its functions or exercise of its powers;
(k)
pay remuneration, allowances and other expenses of the members of the Board and Board Committees;
(l)
provide grants, loans, financing and advances to any person on such terms and conditions as determined by the Board; and
(m)
do anything incidental to any of its functions and powers.
Board