Money Services Business Act 2011 · s 4

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s 4Prohibition from carrying on money services business

(1)

No person shall carry on money services business without a licence issued under this Act.

Money Services Business 17

(2)

Subsection (1) shall not apply to a money services business agent.

(3)

The Bank may prescribe different classes, categories or descriptions of licence in respect of money services business.

(4)

Any person who contravenes subsection (1) commits an offence and shall, on conviction, be liable to a fine not exceeding five million ringgit or to imprisonment for a term not exceeding ten years or to both.