Islamic Financial Services Act 2013 · Updated to 2 Jan 2025 · Part VIII · Financial Groups
125. Bank may approve more than one financial holding company
Official textFrom Laws of Malaysia Online, unchanged
The Bank may require more than one company within a corporate group of the applicant to be approved as a financial holding company.
applicant
“applicant” means— (a) in Part III and Schedule 5, the person who submits, on its own behalf or through an advocate, a secretarial firm or other duly authorized representative, the application for authorization under section 9; (b) in Part VII and Schedule 6, the person who submits, on its own behalf or through an advocate, a secretarial firm or other duly authorized representative, the application for approval under that Part; or (c) in Part VIII, the person who submits the application to be a financial holding company or proposes another company to be a financial holding company;
Terms defined in s 2
applicant
Defined · s 2“applicant” means— (a) in Part III and Schedule 5, the person who submits, on its own behalf or through an advocate, a secretarial firm or other duly authorized representative, the application for authorization under section 9; (b) in Part VII and Schedule 6, the person who submits, on its own behalf or through an advocate, a secretarial firm or other duly authorized representative, the application for approval under that Part; or (c) in Part VIII, the person who submits the application to be a financial holding company or proposes another company to be a financial holding company;
Part VI
Part VI—
Part IX
Business Conduct and Consumer Protection
Part X
Islamic Money Market and Islamic Foreign Exchange Market
Part XI
Submission of Document or Information
Part XII
Examination
Part XIII
Directions of Compliance
Part XIV
Intervention and Remedial Action
Part XV
Other Powers of Bank
Part XVI
Enforcement and Penalties
Part XVII
General Provisions
Part XVIII