Islamic Financial Services Act 2013 · s 227

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227.
Power of Bank, with approval of Minister, to issue directions
(1) The Bank may, with the approval of the Minister, in the national interest, issue directions to any person in Malaysia, to prohibit, restrict or require the doing of any act as may be specified by the Bank, with or without conditions, in relation to dealings or transactions, with any person resident in a country or territory, or in any currency, as may be specified by the Bank.
(2) Any person for whom the directions are issued under subsection (1) shall comply with the directions notwithstanding any

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other duty imposed on that person by any contract or international agreement.
(3) No person shall, in carrying out any act in compliance with the directions made under subsection (1), be treated as being in breach of any such contract or international agreement.
(4) Any person who fails to comply with any direction or condition referred to in subsection (1) commits an offence and shall, on conviction, be liable to imprisonment for a term not exceeding ten years or to a fine not exceeding fifty million ringgit or to both.
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s 227Power of Bank, with approval of Minister, to issue directions

(1)

The Bank may, with the approval of the Minister, in the national interest, issue directions to any person in Malaysia, to prohibit, restrict or require the doing of any act as may be specified by the Bank, with or without conditions, in relation to dealings or transactions, with any person resident in a country or territory, or in any currency, as may be specified by the Bank.

(2)

Any person for whom the directions are issued under subsection (1) shall comply with the directions notwithstanding any

Islamic Financial Services 205

other duty imposed on that person by any contract or international agreement.

(3)

No person shall, in carrying out any act in compliance with the directions made under subsection (1), be treated as being in breach of any such contract or international agreement.

(4)

Any person who fails to comply with any direction or condition referred to in subsection (1) commits an offence and shall, on conviction, be liable to imprisonment for a term not exceeding ten years or to a fine not exceeding fifty million ringgit or to both.

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