Consumer Credit Act 2025 · Updated to 31 Dec 2025 · Part V · Licensing and Registration
50. Revocation or suspension of licence
Feedback & supportA licence granted to a credit provider under section 42
shall be deemed to be revoked if its credit business is wound up or otherwise dissolved, whether within or outside Malaysia.
credit business
“credit business” means any business, whether conventional or Islamic as set out in Schedule 2;
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credit
“credit” means any arrangement, agreement or facility as set out in subsection 5(2);
Subject to section 131, the Commission or the Registrar, as the case may be, may revoke a licence on any of the following grounds:
Commission
“Commission” means the Consumer Credit Commission established under section 6;
the Commission or the Registrar, as the case may be, in connection with the application under section 41, has been provided with false or misleading, inaccurate or incomplete information from which there is a material omission;
the licensed credit provider fails or has failed to comply with—
any provision of this Act or any other requirements as may be prescribed or specified by the
Commission or the Registrar, as the case may be; or
any condition in respect of its licence; or
it is in the interests of the credit consumer or the public to do so.
Where subsection (2) applies, the Commission or the Registrar, as the case may be, may, if it considers it desirable to do so—
Registrar
“Registrar” means the registrar of Islamic credit providers appointed under paragraph 35(2)(a);
suspend the licence for a specific period; and
at any time extend or revoke the suspension of licence.