29. Sale, leasing, etc., of money services business

(1)

No licensee shall, without the prior written approval of the

Bank—

(a)

sell, dispose, lease, assign or transfer howsoever, the whole or any part of its money services business to; or

(b)

amalgamate or merge its money services business with, any other person.

Money Services Business 33

(2)

A licensee 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.

Report

Read on from s 30

Part IV

Remittance Business

Read on from Part IV

Part V

Money Services Business Agents

Read on from Part V

Part VI

Examination

Read on from Part VI

Part VII

Investigation and Enforcement

Read on from Part VII

Part VIII

Other Powers of the Bank

Read on from Part VIII

Part IX

Miscellaneous

Read on from Part IX

Part X

Repeal, Savings and Transitional

Read on from Part X