Section 5
Section 5
No bank shall be granted a licence under section 3 nor shall any bank licensed thereunder carry on business in the Federation without the written consent of the Minister if—
(i)
its capital funds unimpaired by losses or otherwise is less than five million Malaysian dollars; and
(a)
in the case of a bank incorporated in the Federation, its capital funds unimpaired by losses or otherwise is less than two million Malaysian dollars;
(b)
in the case of a bank incorporated outside the Federation—
(ii)
it holds net working funds in the Federation, unimpaired by losses or otherwise of less than two million Malaysian dollars.
(2)
For the purposes of this section—
"capital funds" means paid-up capital and reserves;
"net working funds" in relation to a bank incorporated outside the Federation means the net liabilities of its branches and offices in the Federation to its branches and offices outside the Federation computed in such a manner as may be prescribed by notice in writing from time to time by the Central Bank.
(3)
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