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mylaw.myby aturio
In forceUpdated to 2 Jan 2025Read it in Bahasa Malaysia
Contents

Part XII · Examination

164. Examination by relevant overseas supervisory authority

(1)

A relevant supervisory authority outside Malaysia which exercises functions corresponding to those of the Bank under this Act may, with the approval of the Bank, examine the books and transactions of—

(a)

an approved representative office in Malaysia of a foreign institution;

(b)

an authorized person which operates in Malaysia as a branch of a foreign institution; or

(c)

an authorized person, operator of a designated payment system or a financial holding company which is a subsidiary of a foreign institution, established or incorporated in that country, territory or place, provided that such examination by the relevant supervisory authority is for the sole purpose of its supervisory functions.

(2)

The relevant supervisory authority shall give to the Bank a written undertaking to protect the confidentiality of any information it has obtained during, or arising out of its examination under subsection (1) and the purposes for which such information may be used.

Islamic Financial Services 159

(3)

Where the Bank has granted its approval under subsection (1), the provisions of section 145 shall not apply in relation to the examination to be carried out under such approval, to the extent specified in the approval.

(4)

A copy of the report of an examination under subsection (1)

shall be lodged with the Bank upon the conclusion of such examination.

Report

Read on from s 165

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