Banking and Financial Institutions Act 1989 · As enacted · Part XII · Application of Parts X and XI to Non-Scheduled Institutions Engaged in Provision of Finance
Section 93
Official textFrom Laws of Malaysia Online, unchanged
Where the Minister decides that it is necessary to investigate and control the business and affairs of a non-scheduled institution under section 92 (1) (b), there may be applied to that non-scheduled institution the provisions of Parts X and XI as if it were a licensed institution in such manner, to such extent, and with all such modifications, variations, adaptations, alterations, amendments, additions, deletions or substitutions as the Minister may provide by order made by him on the recommendation of the Bank and published in the Gazette:
Minister
"Minister" means the Minister for the time being charged with the responsibility for finance;
Provided that such order shall not apply to the nonscheduled institution the provisions of section 73 (2) (b) or (c) except with the written consent of the Minister, or the State Authority, submitting the report and recommendation under section 91.
An order of the Minister under subsection (1) shall be deemed to be an integral part of this Act and be read as one with this Act, and shall have full force and effect notwithstanding anything inconsistent therewith, or contrary thereto, contained in this Act.
Terms defined in s 2
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;
non-scheduled institution
Defined · s 2"non-scheduled institution" means— (a) any statutory body; or (b) any person, being an individual, or a body or organization, not being a statutory body, whether corporate or unincorporate, whether or not licensed, registered or authorised under any written law, who or which is neither liable to be licensed under this Act, nor subject to the provisions of Part III;
Part XIII
Information and Secrecy
Part XIV
Offences
Part XV