Malaysia legislation
Section 116
Section 116
(2)
Without prejudice to the generality of subsection (1), regulations may be made—
(a)
to provide for control by the Bank by supervision, regulation, restriction, prohibition, or otherwise howsoever, with respect to—
(i)
the acquisition or holding of any interest in the shares of any corporation, or the acquisition or development of any immovable property, or the acquisition of any interest in immovable property or in its development, by a licensed institution; or
(ii)
the giving of any credit facility by a licensed institution to any person by way of consumer credit, or for the financing of commodity future contracts, the acquisition or holding of immovable property or any interest therein, or the acquisition or holding of any shares or any interest in shares;
(b)
to provide for a declaration to be made, from time to time, by every director, controller, officer, or other person responsible for the business or affairs, of a licensed institution, or a scheduled institution, or a foreign institution or a non-scheduled institution in respect of which the Minister has made an order under section 93(1), to such body of persons or such person, being a body or person related to such institution, as may be specified in the regulations—
(i)
of any interest in shares, or other interest or right whatsoever, held by, or on behalf of, or in trust for, such director, controller, officer, or other person, or any relative of his, in any corporation, or in any partnership, firm or other body unincorporate, other than that institution;
(ii)
of any office of director or manager, or interest as agent, held by him in any body, whether corporate or unincorporate, or in any sole-proprietorship, or in any statutory body, other than that institution; or
(iii)
of any other category, class or description of property, assets, interest, office, or position, held by him;
(c)
to provide for returns or information, periodical or otherwise, to be supplied by licensed institutions, or scheduled institutions or foreign institutions or non-scheduled institutions in respect of which the Minister has made an order under section 93 (1);
(d)
to provide for the-control of advertisements by licensed institutions, or scheduled institutions or foreign institutions or non-scheduled institutions in respect of which the Minister has made an order under section 93 (1);
(e)
to provide for the imposition of duties, liabilities, responsibilities, restrictions, limitations, prohibitions or sanctions, or the conferment of rights, privileges, benefits or indemnities, on the parties to any electronic fund transfer system set up, or operating, in Malaysia;
(f)
to provide for the setting-up, operation, or administration of, or any other matter whatsoever relating to, electronic fund transfer systems;
(g)
to provide for forms in respect of any matter under this Act, or under any regulations made under this section;
(h)
to provide for fees to be paid to the Bank in respect of any matter under this Act, or under any regulations made under this section;
(i)
to provide for any other matter which is required by any provision of this Act to be provided for by regulations.
(3)
Regulations made under this section may relate to all, or any class, category, or description of persons, and may make different provisions for different classes, categories or descriptions of persons.
(4)
References to "this Act" in this section shall not include any regulations, order or other subsidiary legislation made under this Act.