Banking and Financial Institutions Act 1989 · As enacted · Part XIII · Information and Secrecy
Section 101
Official textFrom Laws of Malaysia Online, unchanged
The relevant supervisory authority of a country, territory or place outside Malaysia may, with the approval of the Bank, examine the books, accounts and transactions of—
any office in Malaysia of any licensed foreign bank;
office
"office" includes the principal place of business, a branch, an agency, a mobile place of business, a place of business set up and maintained for a limited period only, an electronic terminal and any other place of business;
a representative office in Malaysia of a foreign institution;
representative office
"representative office" means an office in Malaysia of a foreign institution;
a licensed institution which is a subsidiary of a foreign institution; or
licensed institution
"licensed institution" means any institution licensed or deemed to be licensed under section 6 (4);
a licensed institution which is an associate of a foreign institution, established in that country, territory or place.
foreign institution
"foreign institution" means a person, not being a licensed institution or a scheduled institution, which carries on any business outside Malaysia which corresponds, or is similar, to the business of any licensed or scheduled institution whether or not such person has a representative office;
In granting an approval under subsection (1), the Bank may impose such terms, restrictions and conditions as it deems fit.
Where the Bank has granted its approval under subsection (1), the provisions of section 97 shall not apply in relation to the examination to be carried out under such approval, to the extent specified in the approval.
A copy of the report of an examination under subsection (1) shall, unless otherwise allowed by the Bank, be lodged with the Bank upon the conclusion of such examination.
For the purposes of this section and section 102, "relevant supervisory authority" means an authority which exercises functions corresponding to those of the Bank under this Act, or any person exercising such regulatory functions as may be deemed appropriate by the Bank after taking into account the representations made by the person as to the desirability of or the necessity for the examination.
person
"person" includes an individual, any corporation, statutory body, local authority, society, trade union, co-operative society, partnership and any other body, organization, association or group of persons, whether corporate or unincorporate;
Terms defined in s 2
established
Defined · s 2"established", in relation to— (a) a corporation, means incorporated; (b) a statutory body, means its coming into existence under the law establishing, appointing or constituting it; (c) a co-operative society, means registered; (d) a partnership, means its formation; (e) a sole-proprietorship, means the commencement of its business; or (f) any other individual, body, association or group of persons, whether corporate or unincorporate, which requires registration or other form of recording or recognition under any written law before it can lawfully commence its activities, means its registration, recording or recognition thereunder;
foreign institution
Defined · s 2"foreign institution" means a person, not being a licensed institution or a scheduled institution, which carries on any business outside Malaysia which corresponds, or is similar, to the business of any licensed or scheduled institution whether or not such person has a representative office;
licensed foreign bank
Defined · s 2"licensed foreign bank" means any licensed bank established outside Malaysia;
licensed institution
Defined · s 2"licensed institution" means any institution licensed or deemed to be licensed under section 6 (4);
office
Defined · s 2"office" includes the principal place of business, a branch, an agency, a mobile place of business, a place of business set up and maintained for a limited period only, an electronic terminal and any other place of business;
person
Defined · s 2"person" includes an individual, any corporation, statutory body, local authority, society, trade union, co-operative society, partnership and any other body, organization, association or group of persons, whether corporate or unincorporate;
representative office
Defined · s 2"representative office" means an office in Malaysia of a foreign institution;
subsidiary
Defined · s 2"subsidiary" has the meaning assigned thereto under section 5 of the Companies Act 1965.
Part XIV
Offences
Part XV