Banking and Financial Institutions Act 1989 · As enacted · Part VI · Restrictions on Dealings of Licensed Institutions
Section 35
Official textFrom Laws of Malaysia Online, unchanged
If the Bank is of the opinion that any statement made in an advertisement issued by a licensed institution is false, deceptive, offensive or misleading, the Bank may by notice in writing direct the institution to do all or any of the following:
cease the continued issue of the advertisement;
advertisement
"advertisement" means the disseminating or conveying of information, invitation or solicitation by any means or in any form, including by means of— (a) publication in a newspaper, magazine, journal or other periodical; (b) display of posters or notices; (c) circulars, handbills, brochures, pamphlets, books or other documents; (d) letters addressed to individuals or bodies; (e) photographs or cinematograph films; and (f) sound broadcasting, television or other electronic media;
modify the advertisement in such manner as may be specified by the Bank;
cease the issue of any advertisement which is, wholly or substantially, a repetition of such advertisement;
take all practical steps to withdraw the advertisement from every and all publication or display of it; or
publish a statement in like manner as the advertisement issued earlier to retract or modify such advertisement.
The Bank may vary, add to, revoke or otherwise amend any directions issued under subsection (1) by a notice in writing to the institution concerned.
Terms defined in s 2
advertisement
Defined · s 2"advertisement" means the disseminating or conveying of information, invitation or solicitation by any means or in any form, including by means of— (a) publication in a newspaper, magazine, journal or other periodical; (b) display of posters or notices; (c) circulars, handbills, brochures, pamphlets, books or other documents; (d) letters addressed to individuals or bodies; (e) photographs or cinematograph films; and (f) sound broadcasting, television or other electronic media;
licensed institution
Defined · s 2"licensed institution" means any institution licensed or deemed to be licensed under section 6 (4);
Part VII
Financial Requirements and Duties of Licensed Institutions
Part VIII
Ownership, Control and Management of Licensed Institutions
Part IX
Restrictions on Business of Licensed Institutions
Part X
Powers of Supervision and Control Over Licensed Institutions
Part XI
Investigation, Search and Seizure
Part XII
Application of Parts X and XI to Non-Scheduled Institutions Engaged in Provision of Finance
Part XIII
Information and Secrecy
Part XIV
Offences
Part XV