Money Services Business Act 2011 · s 19

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s 19Restriction of business

(1)

Except with the prior written approval of the Bank, a licensee shall not carry on any business activity other than a money services business activity for which it is licensed under this Act.

28 Laws of Malaysia

(2)

Without prejudice to the generality of subsection (1), a licensee shall only carry on a money services business activity for which it is licensed under this Act.

(3)

A licensee who contravenes subsection (1) or (2) 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.