Banking and Financial Institutions Act 1989 · As enacted · Part VII · Financial Requirements and Duties of Licensed Institutions
Section 39
Official textFrom Laws of Malaysia Online, unchanged
The Bank may specify that such licensed institutions, or such class or category of licensed institutions, as may be set out in the specification, shall hold at all times in Malaysia such minimum amount of assets as may be set out in the specification.
The minimum amount of assets to be held in Malaysia specified under subsection (1) shall be expressed as a percentage of all or such of the liabilities of the institution in Malaysia as may be set out in the specification.
liabilities
"liabilities" includes debts, duties and obligations of every kind, whether present or future, or whether vested or contingent;
In a specification under subsection (1), the Bank may specify—
specify
"specify", where no mode is mentioned, means specify from time to time in writing, and a power to specify includes the power to specify differently for different persons or different classes, categories or descriptions of persons;
different minimum amounts of assets to be held in Malaysia by different classes or categories of licensed institutions;
different types of assets to be classified as assets to be held in Malaysia for different classes or categories of licensed institutions;
different types of liabilities to be classified as liabilities for different classes or categories of licensed institutions; or
different provisions for different classes or categories of licensed institutions in relation to any matter provided under the specification, other than as provided under subsection (4).
The provisions of section 38 (4) shall apply mutatis mutandis in relation to a specification under subsection (1).
Terms defined in s 2
liabilities
Defined · s 2"liabilities" includes debts, duties and obligations of every kind, whether present or future, or whether vested or contingent;
specify
Defined · s 2"specify", where no mode is mentioned, means specify from time to time in writing, and a power to specify includes the power to specify differently for different persons or different classes, categories or descriptions of persons;
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