Consumer Credit Act 2025 · Updated to 31 Dec 2025 · Part V · Licensing and Registration
44. Minimum financial requirements for licensing
Feedback & supportNo person shall be licensed under section 42 if such person does not meet the minimum financial requirements as may be specified by the Commission or the 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;
44
In carrying on its credit business, a licensed credit provider shall comply, at all times, with the minimum financial requirements as may be specified by the Commission or the Registrar, as the case may be.
credit business
“credit business” means any business, whether conventional or Islamic as set out in Schedule 2;
A licensed credit provider shall not continue to carry on any credit business without the prior written consent of the Commission or the Registrar, as the case may be, if it does not meet the minimum financial requirements as specified under subsection (1).
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;