Consumer Credit Act 2025 · Updated to 31 Dec 2025 · Part V · Licensing and Registration
59. Registration
Feedback & supportThe Commission may register the applicant where the Commission is satisfied that the applicant—
Commission
“Commission” means the Consumer Credit Commission established under section 6;
meets the minimum financial requirements under section 61; and
complies with any other requirements of this Act, any other regulations, standards or guidelines or other requirements relating to registration under this Act and conditions as may be specified by the Commission.
The Commission—
in registering an applicant under subsection (1), may specify any conditions of the registration as the Commission thinks fit to impose; or
may at any time during the duration of the registration issue a written notice to —
impose any additional or new conditions;
amend or vary any of the conditions; or
revoke or waive any of the conditions.
If the Commission adds, amends, varies, revokes or waives any of the conditions under subsection (2), the addition, amendment, variation, revocation or waiver shall take effect at the time of the service of the notice or at such time as specified by the Commission.
Any person who fails to comply with any of the conditions of a registration imposed under subsection (2) 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.
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;
58