45. Fit and proper requirements of licensed credit provider

Terms defined in s 4

• Commission

  Commission

  Defined · s 4

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

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• controller

  controller

  Defined · s 4

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

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• credit provider

  credit provider

  Defined · s 4

  “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;

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• director

  director

  Defined · s 4

  “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;

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• Registrar

  Registrar

  Defined · s 4

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

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• senior management

  senior management

  Defined · s 4

  “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;

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• specify

  specify

  Defined · s 4

  “specify” means to specify in writing in any form including standards or guidelines, and a power to specify includes the power to specify differently for different persons or different classes, categories or descriptions of persons, credit businesses, credit service businesses, credit providers or credit service providers;

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