Consumer Credit Act 2025 · Updated to 31 Dec 2025 · Part V · Licensing and Registration
72. Transfer or assignment of registration
Feedback & supportA registered credit service provider shall not—
credit service provider
“credit service provider” means a person who carries on a credit service business where the person— (a) is registered under Part V of this Act; (b) is registered to do so under the Capital Markets and Services Act 2007; or (c) is a permit holder under the Hire-Purchase Act 1967;
transfer or assign its registration to any other person; or
cause or permit any other person to use its registration to carry on the credit service business specified in the registration.
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Any person who contravenes subsection (1) 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;