Development Financial Institutions Act 2002 · Updated to 6 Oct 2023 · Part VIII · Examination and Investigation
106D. Application for appeal of decisions
Feedback & supportAny person who is aggrieved by a decision of the Bank under paragraph 106A(3)(b) or (e) may, within twenty-one days after the person has been notified of the decision, appeal by filing a notice in writing to the Monetary Penalty Review Committee established under the Financial Services Act 2013 or Islamic Financial Services
person
“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;
Act 2013.
The decision of the Bank under paragraph 106A(3)(b) or (e)
Bank
“Bank” means the Central Bank of Malaysia established under the *Central Bank of Malaysia Act 2009;
shall not take effect until the appeal is disposed of.
The Monetary Penalty Review Committee may decide to confirm the decision of the Bank or require the Bank to reconsider and reach a decision in accordance with the findings of the Committee.
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PART VIIIB
CIVIL ACTIONS