Section 55
Requirements to be chairman, director, chief executive officer or senior officer
of Financial Services Act 2013
An institution shall not appoint or elect, reappoint or re-elect any person as a chairman, director, chief executive officer or senior officer of the institution, unless such person—
(a)
is an individual;
(b)
is not disqualified under subsection 59(1); and
(c)
has complied with the fit and proper requirements as may be specified by the Bank under section 60.
(2)
No person shall accept any appointment or election, reappointment or re-election as a chairman, director, chief executive officer or senior officer of an institution, unless such person—
(a)
is not disqualified under subsection 59(1); and
(b)
has complied with the fit and proper requirements as may be specified by the Bank under section 60.
(3)
Unless the Bank otherwise approves, a chief executive officer of an institution shall have his principal or only place of residence within Malaysia and devote the whole of his professional time to the service of the institution.