Consumer Credit Act 2025 · Updated to 31 Dec 2025 · Part V · Licensing and Registration
48. Acquisition of interest in shares of licensed credit provider
Feedback & supportExcept with the prior written approval of the Commission, no person shall acquire any interest in shares of a licensed credit provider regulated by the Commission by entering into an agreement or arrangement or in any manner howsoever, if such acquisition will result in such person holding, together with any interest in shares of that licensed credit provider which are already held by such person, an aggregate interest in shares of thirty three per cent or more in the licensed credit provider.
Commission
“Commission” means the Consumer Credit Commission established under section 6;
The Commission may specify what constitutes “interest in shares” for the purposes of subsection (1).
specify
“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;
Except with the prior written approval of the Registrar, no person shall become a substantial shareholder of a licensed credit provider regulated by the Ministry of Housing and Local
Registrar
“Registrar” means the registrar of Islamic credit providers appointed under paragraph 35(2)(a);
Government.
For the purpose of subsection (3), “substantial shareholder”
has the meaning assigned to it under section 136 of the Companies
Act 2016.
Any person who contravenes subsection (1) or (3) commits an offence and shall, on conviction, be liable to a fine not exceeding five hundred thousand ringgit or to imprisonment for a term not exceeding three years or to both.
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;