Consumer Credit Act 2025 · Updated to 31 Dec 2025 · Part V · Licensing and Registration
69. Effect of deregistration, suspension and voluntary deregistration
Feedback & supportA person shall immediately cease to carry on its credit service business where—
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;
the Commission suspends a registration or deregisters a registered credit service provider under section 67; or
the deregistration has taken effect under subsection 68(2).
Notwithstanding subsection (1), the person referred to in subsection (1) shall continue—
to be subject to this Act to the same extent as a registered credit service provider; and
to discharge its obligations including, subject to the prior written approval of the Commission to carry on credit service business solely for the purpose of winding up of its affairs or for the purposes which are beneficial to its credit consumers or other persons dealing with it, until the Commission is satisfied that the person has discharged its obligations, or that adequate arrangements have been made to discharge its obligations, which remain undischarged at the time of the deregistration, suspension or voluntary deregistration.
The deregistration, suspension or voluntary deregistration referred to in subsection (1) shall not—
avoid or affect any agreement, arrangement or transaction entered into by the person referred to in subsection (1)
with any person; or
affect any right, obligation or liability arising under any such agreement, arrangement or transaction.
Consumer Credit 67
Any person who contravenes subsection (1) or fails to discharge its obligations under subsection (2) commits an offence and shall, on conviction, be liable to a fine not exceeding five million ringgit or to imprisonment for a term not exceeding five years or to both.