Malaysia legislation
Section 6
Section 6
Amendment of section 12
Subsection 12(1) of the principal Act is amended by substituting for paragraph (a) the following paragraph:
“(a) the licensee, its chief executive officer, or any of its shareholders, controllers, directors, or managers, has been convicted of—
(i)
an offence under the Central Bank of Malaysia
Act 2009, the Banking and Financial Institutions
Act 1989 [Act 372], the Islamic Banking
Act 1983 [Act 276], the Insurance Act 1996
[Act 553], the Takaful Act 1984 [Act 312], the Exchange Control Act 1953 [Act 17], the Payment
Systems Act 2003 [Act 627], the Development
Financial Institutions Act 2002 [Act 618], the Financial Services Act 2013, the Islamic Financial
Services Act 2013, the Currency Act 2020
[Act 827] or any other written law administered by the Bank;
(ii)
an offence under the Companies Act 1965 or the Companies Act 2016; or
(iii)
any offence involving fraud, dishonesty, corruption or other offences of the same kind;”.
Money Services Business (Amendment)
7
Amendment of section 23