Money Services Business Act 2011 · s 43

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s 43Application and grant of approval

(1)

A licensee shall apply in writing for the written approval of the Bank under section 42 to appoint a money services business agent—

46 Laws of Malaysia

(a)

in such form and manner and together with such documents as the Bank may specify; and

(b)

by submitting such information as the Bank may prescribe.

(2)

The Bank may, by written notice, require the licensee to provide additional information or documents.

(3)

Without prejudice to subsection (2), the Bank may take into consideration any information in its possession whether provided by the licensee or not.

(4)

The Bank may grant an approval to a licensee to appoint money services business agent, with or without conditions, or refuse to grant an approval.

(5)

A licensee who fails to comply with any condition imposed under subsection (4) commits an offence.