Malaysia legislation

Section 8

of CONSUMER CREDIT ACT 2025

Section 8

(2)

Without prejudice to the generality of subsection (1), the powers of the Commission shall include the power to—

(a)

regulate all matters relating to consumer credit;

(b)

regulate and supervise persons carrying on credit business and credit service business regulated by the Commission;

(c)

impose prescribed fees in the performance of its functions or exercise of its powers;

(d)

examine the business and affairs of a credit provider or credit service provider regulated by the Commission;

(e)

impose monetary penalty under section 106;

(f)

cause an investigation to be made and exercise all the powers of investigation on matters relating to credit business or credit service business regulated by the Commission;

Consumer Credit 21

(g)

specify standards or guidelines under section 123

on matters relating to consumer credit regulated by the Commission;

(h)

utilize all the movable and immovable property of the Commission in such manner as the Commission may think expedient, including the raising of funds by mortgaging such property;

(i)

establish and authorise a committee consisting of members as may be determined by the Commission for the purpose of performing any of its functions or exercising any of its powers under this Act;

(j)

appoint and remunerate such agents, experts or consultants as it deems fit to assist the Commission in the performance of its functions or exercise of its powers;

(k)

pay remuneration, allowances and other expenses of the members of the Board and Board Committees;

(l)

provide grants, loans, financing and advances to any person on such terms and conditions as determined by the Board; and

(m)

do anything incidental to any of its functions and powers.

Board