Banking and Financial Institutions Act 1989 · As enacted · Part VII · Financial Requirements and Duties of Licensed Institutions
Section 44
Official textFrom Laws of Malaysia Online, unchanged
Every licensed institution shall pay—
licensed institution
"licensed institution" means any institution licensed or deemed to be licensed under section 6 (4);
a licence fee upon being licensed;
licence
"licence" means a licence granted or deemed to be granted under section 6 (4);
a fee upon obtaining the consent of the Bank under section 30 (a) for opening any office in Malaysia other than the office at the principal place of business; and
an annual fee on the licence so issued and in respect of each office, including the office at the principal place of business, each of such fee to be paid not less than one month before the anniversary date of the issue of the licence, of such amount, or calculated at such rate or in such manner as the Minister may prescribe on the recommendation of the Bank.
office
"office" includes the principal place of business, a branch, an agency, a mobile place of business, a place of business set up and maintained for a limited period only, an electronic terminal and any other place of business;
The Minister may prescribe under subsection (1) different fees for licences issued for the different businesses specified in section 4, or for different classes or categories of licensed institutions determined according to the size or location of the institutions, or on the basis of any other criteria deemed appropriate by the Bank in making its recommendations to the Minister.
Minister
"Minister" means the Minister for the time being charged with the responsibility for finance;
For the purposes of this section, the size of a licensed institution shall be determined in relation to the number of offices it has in and outside Malaysia, or to the value of its assets or of any category of its assets, or to the amount of its liabilities or of any category of its liabilities, or to any combination thereof.
liabilities
"liabilities" includes debts, duties and obligations of every kind, whether present or future, or whether vested or contingent;
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;
licence
Defined · s 2"licence" means a licence granted or deemed to be granted under section 6 (4);
licensed institution
Defined · s 2"licensed institution" means any institution licensed or deemed to be licensed under section 6 (4);
Minister
Defined · s 2"Minister" means the Minister for the time being charged with the responsibility for finance;
office
Defined · s 2"office" includes the principal place of business, a branch, an agency, a mobile place of business, a place of business set up and maintained for a limited period only, an electronic terminal and any other place of business;
prescribe
Defined · s 2"prescribe", where no mode is mentioned, means prescribe from time to time by order published in the Gazette, and a power to prescribe includes the power to make different provisions in the order, or in other mode of prescribing, for different persons, 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