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In forceUpdated to 2 Jan 2025Read it in Bahasa Malaysia
Contents

Part VII · Ownership, Control and Transfer of Business

115. Bank to be party to proceedings

(1)

A person making an application to the High Court under subsection 114(2) in relation to a business transfer scheme shall—

(a)

deliver a copy of the application to the Bank;

(b)

give notice to the Bank of all proceedings relating to the application; and

Islamic Financial Services 121

(c)

give to the Bank a copy of any document relating to the proceedings, at the same time as the proceedings are instituted or the document is lodged, in the High Court or the document is served on a party to the proceedings.

(2)

The Bank shall be entitled to be heard in proceedings relating to the application under subsection (1).

(3)

Notwithstanding that the Bank has given its approval to a business transfer scheme under subsection 112(6), the Bank may propose any modification to the scheme.

Report

Read on from s 116

Part VIII

Financial Groups

Read on from Part VIII

Part VI

Part VI—

Read on from Part VI

Part IX

Business Conduct and Consumer Protection

Read on from Part IX

Part X

Islamic Money Market and Islamic Foreign Exchange Market

Read on from Part X

Part XI

Submission of Document or Information

Read on from Part XI

Part XII

Examination

Read on from Part XII

Part XIII

Directions of Compliance

Read on from Part XIII

Part XIV

Intervention and Remedial Action

Read on from Part XIV

Part XV

Other Powers of Bank

Read on from Part XV

Part XVI

Enforcement and Penalties

Read on from Part XVI

Part XVII

General Provisions

Read on from Part XVII

Part XVIII

Repeal, Savings and Transitional

Read on from Part XVIII

Schedules