Consumer Credit Act 2025

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shall apply to any person carrying on a credit business as set out in paragraph 1 or paragraph 3 of Schedule 4 that does not involve a credit consumer.

Malaysia, such cases shall be dealt with in accordance with the securities laws and guidelines issued by the Securities

Commission Malaysia and the rules of exchange as approved by the Securities Commission Malaysia.

“individual” means a natural person;

“Board Committee” means a committee of the Board established under section 18;

“Advisory Committee” means the Advisory Committee established under section 36;

“chief executive”, in relation to a body corporate, means the principal executive officer of such body for the time being, by whatever name called and whether or not he is a director;

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“computer” has the meaning assigned to it in section 3 of the Evidence Act 1950;

“co-operative society” has the meaning assigned to it in section 2

of the Co-operative Societies Act 1993;

“credit” means any arrangement, agreement or facility as set out in subsection 5(2);

“Board” means the board of directors of the Commission referred to in section 9;

“licence” means a licence granted under section 42;

“liabilities” includes debts or obligations of every kind, whether present or future, or whether vested or contingent;

“Shariah Advisory Council” means the Shariah Advisory Council established under section 51 of the Central Bank of Malaysia

Act 2009 [Act 701] or section 31zi of the Securities Commission

Malaysia Act 1993;

“Minister” means the Minister charged with the responsibility for finance;

“Minister of Domestic Trade and Cost of Living” means the Minister charged with the responsibility for domestic trade and cost of living;

“Minister of Housing and Local Government” means the Minister charged with the responsibility for housing and local government;

“person” includes an individual, any sole proprietorship, 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;

“computer output” means a statement or representation, whether in written, printed, pictorial, film, graphical, acoustic or other form—

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“credit provider” means a person who carries on a credit business where the person—

“Islamic credit provider” means a person who carries on an

Islamic credit business where the person is authorized under this

Act or other written laws;

“credit service provider” means a person who carries on a credit service business where the person—

Services Act 2007; or

“Registrar” means the registrar of Islamic credit providers appointed under paragraph 35(2)(a);

“registration” means a registration made under section 59;

“director” has the meaning assigned to it in the Companies

Act 2016, and includes a reference to a person occupying or acting in the position of a director of a corporation, by whatever name called and whether or not validly appointed to occupy, or duly authorized to act in, such position;

“controller” means a person as defined in subsection 47(6) or subsection 64(6), as the case may be;

“Executive Chairman” means the executive chairman of the Board appointed under section 9;

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“credit consumer” means any person as set out in subsection 5(1);

“senior management” means a person appointed by a corporation to manage any part of its business or having authority and responsibility for the credit business, credit service business or business decisions of the corporation, by whatever name called and includes the chief executive and chief financial officer;

“corporation” has the meaning assigned to it in section 3 of the Companies Act 2016;

“credit agreement” means an agreement entered into between a credit provider and a credit consumer to provide credit;

“arrangement” means an arrangement whether formal or informal, oral or written, express or implied;

“credit business” means any business, whether conventional or

Islamic as set out in Schedule 2;

“Islamic credit business” means any business as set out in paragraph 2 of Schedule 2;

“credit service business” means any business providing services relating to credit as set out in Schedule 3;

“body corporate” means a person incorporated by or under any written law, and includes a corporation or statutory body, public authority or other authority, incorporated by or under a written law;

“micro or small enterprise” refers to an enterprise that qualifies as a micro or small enterprise as defined based on the size of its operation, by the National Small and Medium Enterprises

Development Council established under the Small and Medium

Enterprises Corporation Malaysia Act 1995 [Act 539];

“Regulatory and Supervisory Authority” means any body as set out under subsection 34(1);

“premises” includes any land, building, structure, place or vehicle, whether permanent or temporary;

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“standards or guidelines” includes any obligation or requirement as specified by the Commission or a Regulatory and Supervisory

Authority under section 123;

“Commission” means the Consumer Credit Commission established under section 6;

“company” has the meaning assigned to it in subsection 2(1)

of the Companies Act 2016;

“Deputy Registrar” means the deputy registrar of Islamic credit providers appointed under paragraph 35(2)(a);

“Deputy Executive Chairman” means the deputy executive chairman of the Board appointed under section 9;

“securities laws” has the meaning assigned to it in subsection 2(1)

of the Securities Commission Malaysia Act 1993.