Section 85
of Financial Services Act 2013
ActIn forceProvision 85 of 124
Section 85
(1)
No authorized person shall—
(a)
establish or acquire a subsidiary in or outside Malaysia; or
(b)
acquire or hold any material interest in any corporation, without the prior written approval of the Bank.
(2)
The Bank may specify what constitutes “material interest” for
Financial Services 103
the purposes of paragraph (1)(b).