Currency Act 2020 · Updated to 28 Feb 2020 · Part IV · Currency Processing Business
Section 29
Feedback & supportA registered currency processor proposing to cease from carrying on currency processing business shall give a notice to the
registered currency processor
“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;
Bank for voluntary deregistration and may propose an effective date for the voluntary deregistration.
Bank
“Bank” has the same meaning assigned to it in subsection 2(1) of the Central Bank of Malaysia Act 2009;
The Bank shall, upon receipt of a notice under subsection (1), deregister a registered currency processor in accordance with the proposed effective date stated in the notice, if any, or such later date as the Bank deems fit.
The Bank shall notify a registered currency processor of the effective date of its voluntary deregistration under this section.