Banking and Financial Institutions Act 1989 · As enacted · Part VIII · Ownership, Control and Management of Licensed Institutions
Section 52
Official textFrom Laws of Malaysia Online, unchanged
Where any person proposes to give any credit facility to any person on the security of any property of any licensed institution, he shall, before giving such credit facility, submit a report on the proposed credit facility to the Bank if the property to be provided as security for the proposed credit facility, by itself, or together with any other property of such licensed institution already held as security for any other credit facilities given by him, would constitute five per centum or more of the properties of such licensed institution.
person
"person" includes an individual, any corporation, statutory body, local authority, society, trade union, co-operative society, partnership and any other body, organization, association or group of persons, whether corporate or unincorporate;
Where a licensed institution proposes to provide its property as security in respect of a credit facility to be given by any person to the licensed institution or to any other person, it shall, before doing so, submit a report on the matter to the Bank.
licensed institution
"licensed institution" means any institution licensed or deemed to be licensed under section 6 (4);
The report required to be submitted under subsection (1) or (2) shall contain all relevant details and particulars of the transaction and shall, in any case, include the following:
the names and addresses of the persons to whom the credit facility is proposed to be given;
the name and address of the licensed institution whose property is to be provided as security for the proposed credit facility;
details of the property to be provided as security for the proposed credit facility; and
the amount of the proposed credit facility.
Terms defined in s 2
credit facility
Defined · s 2"credit facility" means— (a) the giving of any advance, loan or other facility in whatever form or by whatever name called whereby the person to whom the same is given has access, directly or indirectly, to the funds of the person giving the same; (b) the giving of a guarantee in relation to the obligations of any person; or (c) any other dealing or transaction as may be prescribed by the Bank;
licensed institution
Defined · s 2"licensed institution" means any institution licensed or deemed to be licensed under section 6 (4);
person
Defined · s 2"person" includes an individual, any corporation, statutory body, local authority, society, trade union, co-operative society, partnership and any other body, organization, association or group of persons, whether corporate or unincorporate;
property
Defined · s 2"property" means any movable or immovable property and includes— (a) any right, interest, title, claim, chose in action, power or privilege, whether present or future, or whether vested or contingent, in relation to any property, or which is otherwise of value; (b) any conveyance executed for conveying assigning, appointing, surrendering, or otherwise transferring or disposing of immovable property whereof the person executing the conveyance is proprietor or possessed or wherein he is entitled to a contingent right, either for the whole interest or for any less interest; (c) any security, including any stock, share, debenture and fund; (d) any negotiable instrument, including any bank note, bearer note, Treasury bill, dividend warrant, bill of exchange, promissory note, cheque and negotiable certificate of deposit; (e) any mortgage or charge, whether legal or equitable, guarantee, lien or pledge, whether actual or constructive, letter of hypothecation or trust receipt, indemnity, undertaking or other means of securing payment or discharge of a debt or liability, whether present or future, or whether vested or contingent; and (f) any other tangible or intangible property;
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