Consumer Credit Act 2025 · Updated to 31 Dec 2025 · Part V · Licensing and Registration
41. Application for licence
Feedback & supportA person intending to carry on a credit business as set out in paragraph 1 or paragraph 2 of Schedule 4 shall submit an application to the Commission or Registrar, as the case may be.
person
“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;
The application under subsection (1) shall be—
made to the Commission or Registrar, as the case may be, in such form and manner as may be specified by the Commission or the Registrar; and
accompanied by payment of the prescribed fee and such information, particulars or document as may be specified by the Commission or Registrar, as the case may be.
The Commission or the Registrar, as the case may be, may at any time after the receipt of an application under subsection (1)—
Commission
“Commission” means the Consumer Credit Commission established under section 6;
conduct such inquiry as it may deem necessary, including conducting financial, professional, criminal or any other background checks of the applicant and controller, directors, partners and senior management of the applicant; and
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by a written notice require the applicant to furnish it with such document or information as the Commission or the Registrar, as the case may be, deems necessary in relation to the application.
Where any additional document or information required under paragraph (3)(b) is not provided by the applicant within the period specified in the written notice or any extension of time granted by the Commission or the Registrar, as the case may be—
document
“document” has the meaning assigned to it in section 3 of the Evidence Act 1950, and includes books as defined in the Companies Act 2016 and documents of title to assets;
the application shall not be further proceeded with, but without affecting the right of the applicant to make a fresh application; and
there shall be no refund of the fee paid by the applicant.
Where an applicant withdraws an application submitted under subsection (2)—
it shall not affect the right of the applicant to make a fresh application after a period as may be specified by the Commission or the Registrar, as the case may be; and
there shall be no refund of the fee paid by the applicant.
Upon receipt of an application and payment of fee and submission of information, particulars or document under subsection
and any additional document or information provided under paragraph (3)(b), the Commission or the Registrar, as the case may be, may consider such application.
Registrar
“Registrar” means the registrar of Islamic credit providers appointed under paragraph 35(2)(a);
A licensed credit provider intending to carry on a subsequent credit business as set out in paragraph 1 or paragraph 2 of
credit provider
“credit provider” means a person who carries on a credit business where the person— (a) is licensed under Part V of this Act; (b) is permitted to do so under any other written law; (c) is subject to the Hire-Purchase Act 1967; or (d) is subject to the Consumer Protection Act 1999;
Schedule 4 shall submit another application to the Commission or Registrar, as the case may be, in accordance with this section.
Nothing in this Act shall prohibit or restrict any licensed credit provider regulated by the Commission from carrying on an Islamic credit business in addition to its conventional credit business, provided that the licensed credit provider obtains the prior written approval of the Commission.
this Act
“this Act” includes any subsidiary legislation, standard or guidelines and notification made under this Act;
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