Malaysia legislation
Section 9
Section 9
(2)
The Board shall consist of the following members:
(a)
an Executive Chairman who shall be the chairman of the Board;
(b)
a Deputy Executive Chairman who shall be the deputy chairman of the Board;
(c)
one member representing each of the following:
(i)
the Ministry of Finance;
(ii)
the Central Bank of Malaysia;
(iii)
the Securities Commission Malaysia; and
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(d)
not more than four other members who shall have relevant knowledge and experience in matters relating to consumer credit or any other matter relevant to the functions of the Commission.
(3)
The members of the Board including an alternate member of any member referred to in paragraph (2)(c) shall be appointed by the Minister, on the recommendation of the Board.
(4)
The alternate members shall only be deemed to be members of the Board when attending meetings of the Board in place of the members referred to in paragraph (2)(c).
(5)
The Board—
(a)
shall be responsible for, and have oversight of the conduct of the business and affairs of the Commission;
(b)
shall be responsible for policy objectives relating to the credit industry;
(c)
shall be responsible for the general administration and monitoring of the overall governance of the Commission;
(d)
shall be responsible for reviewing and approving the budget and strategic plan of the Commission; and
(e)
shall be responsible for such other matters as may be provided under this Act.
(6)
A member of the Board shall—
(a)
at all times act honestly and in the best interest of the Commission and use reasonable diligence in the performance of his functions; and
(b)
not make improper use of any information acquired or exercise any improper influence by virtue of his position to gain directly or indirectly an advantage for himself or for any other person.
Consumer Credit 23
Appointment of members of Board