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Banking and Financial Institutions Act 1989 · s 57

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s 57

(1)

Subject to subsection (2), every licensed institution shall appoint a chief executive of the institution who shall be—

(a)

an individual; and

(b)

resident in Malaysia during the period of his appointment.

(2)

Without prejudice to any appointment made before the effective date, a licensed institution shall, before appointing a chief executive pursuant to subsection (1), seek and obtain the Bank's written approval for the proposed appointment.