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

Part XVII · General Provisions

271. Regulations

(1)

The Minister may, on the recommendation of the Bank, make such regulations as may be necessary or expedient for—

(a)

giving full effect to the provisions of this Act;

(b)

carrying out or achieving the regulatory objectives and purposes of this Act;

(c)

the further, better or more convenient implementation of the provisions of this Act; or

(d)

providing for any supplemental, incidental or consequential matters in relation to this Act.

(2)

Without limiting the generality of subsection (1), regulations may be made—

(a)

to provide for control by the Bank by supervision, regulation, restriction, prohibition, or otherwise howsoever, with respect to the provision of finance, Islamic financial intermediation activities as defined in section 222, Islamic banking services or takaful services supplied or carried on by persons other than an authorized person;

(b)

to provide for forms in respect of any matter under this Act, or under any regulations made under this section;

(c)

to provide for fees to be paid to the Bank in respect of any matter under this Act or under any regulations made under this section; and

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(d)

to provide for the imposition of penalties for any offence under the regulations which shall not exceed imprisonment for a term not exceeding five years or a fine not exceeding ten million ringgit or to both.

(3)

Regulations made under this section may relate to all or any class, category or description of persons, and may make different provisions for different classes, categories or descriptions of persons.

Provisions relating to approvals, consents, standards, codes, specifications, notices, requirements, directions or measures

Report

Read on from s 272

Part XVIII

Repeal, Savings and Transitional

Read on from Part XVIII

Schedules