10. Notice of cessation of office

Terms defined in s 3

• Bank

  Bank

  Defined · s 3

  “Bank” means the Central Bank of Malaysia established under the *Central Bank of Malaysia Act 2009;

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• chairman

  chairman

  Defined · s 3

  “chairman”, in relation to a prescribed institution, means chairman of the board of directors;

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• Chief Executive Officer

  Chief Executive Officer

  Defined · s 3

  “Chief Executive Officer”, in relation to an institution, means an individual, who either individually or jointly with one or more other persons, is responsible, subject to the authority of the directors, for the conduct of the business and the administration of the institution;

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• director

  director

  Defined · s 3

  “director” includes any person who occupies the position of a director, and includes a person in accordance with whose directions and instructions the directors or officers are accustomed to act and an Development Financial Institutions 19 alternate or substitute director, and without prejudice to the foregoing, in the case of— (a) a co-operative society, means a member of the board, or other governing body, of the co-operative society; (b) a statutory body, means a member of the board, committee, council or other governing body of the statutory body; (c) a partnership, means a partner; (d) a sole proprietorship, means the sole proprietor; and (e) any other body, association or group of persons, whether corporate or unincorporate, means a person having the direction and control of the management of its business or affairs;

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• office

  office

  Defined · s 3

  “office” includes the principal place of business, a branch, an agency, a mobile place of business, a place of business set up and maintained for a limited period only, an electronic terminal and any other place of business;

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• person

  person

  Defined · s 3

  “person” includes an individual, any 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;

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• prescribed institution

  prescribed institution

  Defined · s 3

  “prescribed institution” means a development financial institution which is prescribed by the Minister under subsection 2(1);

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• senior officer

  senior officer

  Defined · s 3

  “senior officer”, in relation to a prescribed institution, means a person, other than the Chief Executive Officer or a director, having authority and responsibility for planning, directing or controlling the activities of a prescribed institution including the chief operating officer, members of decision-making committees and other persons performing key functions such as risk management, compliance, internal audit or other functions as may be specified by the Bank under section 41, but shall not include a member of a Shariah committee;

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