Money Services Business Act 2011 · s 45

Suggest a correction

Tell us what is wrong in this text. We check every suggestion against the official version before we change anything.

What is wrong?Wrong or mistyped wordsWrong structure or numberingWrong title or detailsText that appears twice

What should change, and whyUp to 2,000 characters.The text as it should read (optional)Edit the text above. Up to 20,000 characters.Where you checked it (optional)A link to the official version, if you have one.

The text as we hold it

Open the official text

s 45Prohibition from carrying on money services business on behalf of a licensee

(1)

No person shall carry on money services business on behalf of a licensee unless the person is—

(a)

a company;

(b)

appointed by a licensee under section 43; and

(c)

duly registered by the Bank as a money services business agent under section 44.

(2)

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.