Section 33
Unless the Minister, on the recommendation of the Bank, otherwise prescribes—
of Banking and Financial Institutions Act 1989
ActIn forceProvision 34 of 144
Section 33
(a)
a licensed finance company, licensed merchant bank or licensed discount house shall not—
(i)
accept money on deposit which is repayable on demand by cheques, drafts, orders or any other instrument drawn by the depositor on the institution; or
(ii)
deal in foreign currency; and
(b)
a licensed finance company, a licensed merchant bank, a licensed discount house or a licensed money-broker shall not engage in any business other than its licensed business.