Malaysia legislation
Section 6
Section 6
The principal Act is amended by inserting after section 7
the following section:
“Functions of regulatory or supervisory authority 7a. (1) The Minister of Finance may, upon the recommendation of the competent authority and after consultation with the
Minister of Home Affairs for the purposes of Part VIa, by order
Anti-Money Laundering, Anti-Terrorism
Financing and Proceeds of Unlawful
Activities (Amendment)
7
published in the Gazette, appoint any person to be a regulatory or supervisory authority and such person shall have all the functions conferred on a regulatory or supervisory authority under this Act as specified by the Minister of Finance.
(2)
The regulatory or supervisory authority may, after consultation with the Minister of Home Affairs for the purposes of Part VIa, authorize any of its officers or any other person to perform any or all of its functions under this Act as specified by the Minister of Finance.”.
Amendment of section 8