Banking and Financial Institutions Act 1989 · s 39

Suggest a correction

Tell us what is wrong in this text. We check every suggestion against the official version before we change anything.

What is wrong?Wrong or mistyped wordsWrong structure or numberingWrong title or detailsText that appears twice

What should change, and whyUp to 2,000 characters.The text as it should read (optional)

39. (1) The Bank may specify that such licensed institutions, or such class or category of licensed institutions, as may be set out in the specification, shall hold at all times in Malaysia such minimum amount of assets as may be set out in the specification.
(2) The minimum amount of assets to be held in Malaysia specified under subsection (1) shall be expressed as a percentage of all or such of the liabilities of the institution in Malaysia as may be set out in the specification.
(3) In a specification under subsection (1), the Bank may specify—
(a) different minimum amounts of assets to be held in Malaysia by different classes or categories of licensed institutions;
(b) different types of assets to be classified as assets to be held in Malaysia for different classes or categories of licensed institutions;
(c) different types of liabilities to be classified as liabilities for different classes or categories of licensed institutions; or
(d) different provisions for different classes or categories of licensed institutions in relation to any matter provided under the specification, other than as provided under subsection (4).
(4) The provisions of section 38 (4) shall apply mutatis mutandis in relation to a specification under subsection (1).

Edit the text above. Up to 20,000 characters.Where you checked it (optional)A link to the official version, if you have one.

The text as we hold it

Open the official text

s 39

(1)

The Bank may specify that such licensed institutions, or such class or category of licensed institutions, as may be set out in the specification, shall hold at all times in Malaysia such minimum amount of assets as may be set out in the specification.

(2)

The minimum amount of assets to be held in Malaysia specified under subsection (1) shall be expressed as a percentage of all or such of the liabilities of the institution in Malaysia as may be set out in the specification.

(3)

In a specification under subsection (1), the Bank may specify—

(a)

different minimum amounts of assets to be held in Malaysia by different classes or categories of licensed institutions;

(b)

different types of assets to be classified as assets to be held in Malaysia for different classes or categories of licensed institutions;

(c)

different types of liabilities to be classified as liabilities for different classes or categories of licensed institutions; or

(d)

different provisions for different classes or categories of licensed institutions in relation to any matter provided under the specification, other than as provided under subsection (4).

(4)

The provisions of section 38 (4) shall apply mutatis mutandis in relation to a specification under subsection (1).