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

Part VI · Prudential Requirements

74. Compliance with approved accounting standards

(1)

An institution shall prepare its financial statements in accordance with—

(a)

the approved accounting standards subject to any standards as may be specified by the Bank under subsection 57(1); or

*NOTE—The Companies Act 1965 [Act 125] has since been repealed by the Companies Act 2016

[Act 777] which comes into operation on 31 January 2017–see subsection 620(1) of Act 777.

Islamic Financial Services 97

(b)

in the absence of any approved accounting standards, any standards as may be specified by the Bank under subsection 57(1).

(2)

Where the financial statements of an institution are prepared in accordance with paragraph (1)(a), such financial statements are deemed to have been prepared in accordance with the approved accounting standards.

Report

Read on from s 75

Part VII

Ownership, Control and Transfer of Business

Read on from Part VII

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