Malaysia legislation
Section 38
Section 38
(2)
The minimum, or minimum average, amount of liquid assets specified under subsection (1) shall be expressed as a percentage of all or such of its liabilities incurred by its offices in Malaysia as may be set out in the specification.
(3)
In a specification under subsection (1), the Bank may specify—
(a)
different minimum, or different minimum average, amounts of liquid assets for different classes or categories of licensed institutions;
(b)
different types of assets to be classified as liquid assets for different classes or categories of licensed institutions; or
(c)
different types of liabilities as mentioned in subsection (2) to be classified as liabilities for different classes or categories of licensed institutions.
(4)
In a specification under subsection (1) the Bank shall specify the period, being in any case not less than seven days, within which a licensed institution shall comply with the specification, and it may specify different periods for different classes or categories of licensed institutions:
Provided that such period is a uniform period for all licensed institutions in the class or category concerned.
(5)
A licensed institution shall not, during any period in which it has failed to comply with any requirement of a specification under this section, give any credit facilities to any person without the prior written approval of the Bank.