Development Financial Institutions Act 2002 · Updated to 6 Oct 2023 · Part VIII · Examination and Investigation
106C. Power of Bank to prescribe monetary penalty
Feedback & supportThe Bank may, with the concurrence of the Minister, prescribe the following matters as it deems necessary, for giving full effect to or for convenient implementation of subparagraph 106A(3)(b)(i), or for the purposes of this Act:
Bank
Defined · s 3
“Bank” means the Central Bank of Malaysia established under the *Central Bank of Malaysia Act 2009;
(a)
the classification or designation of breaches under this Act into different categories of breaches; and
(b)
the fixing, in accordance with paragraph (a), of a monetary penalty, or a range of monetary penalties, in respect of each category of breaches.