Section 24

Terms defined in s 2

• Bank

  Bank

  Defined · s 2

  “Bank” has the same meaning assigned to it in subsection 2(1) of the Central Bank of Malaysia Act 2009;

  Open s 2
• currency processing business

  currency processing business

  Defined · s 2

  “currency processing business” means— (a) the business of— (i) collecting currency note or currency coin; (ii) sorting currency note or currency coin by authenticity and quality; and (iii) packing currency note or currency coin by quality, quantity and denomination, by a person for or on behalf of another person; or (b) any activity declared as a currency processing business under section 23.

  Open s 2
• financial institution

  financial institution

  Defined · s 2

  “financial institution” means— (a) a licensed bank under the Financial Services Act 2013, a licensed Islamic bank under the Islamic Financial Services Act 2013 and a prescribed institution under the Development Financial Institutions Act 2002; or (b) any person declared as a financial institution in the First Schedule;

  Open s 2
• person

  person

  Defined · s 2

  “person” means any natural person, corporation, statutory body, local authority, society, trade union, co-operative society, partnership or any other body, organisation, association or group of persons, whether corporate or unincorporated and includes the Government and any State Government;

  Open s 2
• registered currency processor

  registered currency processor

  Defined · s 2

  “registered currency processor” means a person registered under subsection 26(1) to carry on a currency processing business and for the purpose of Division 3 of Part IV includes any financial institution carrying on currency processing activities;

  Open s 2