Consumer Credit Act 2025 · Updated to 31 Dec 2025 · Part V · Licensing and Registration
56. Sale, disposal, leasing, etc., of credit business
Feedback & supportExcept with the prior written approval of the Commission or the Registrar, as the case may be, no licensed credit provider shall—
Commission
“Commission” means the Consumer Credit Commission established under section 6;
sell, dispose, lease, assign or transfer howsoever, the whole or any part of its credit business to any other person; or
amalgamate or merge its credit business with any other person.
A licensed credit provider who contravenes 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;
commits an offence and shall, on conviction, be liable to a fine not exceeding one million ringgit or to imprisonment for a term not exceeding four years or to both.
Registration