Section 14
Change in control, amalgamation and merger
of Development Financial Institutions Act 2002
ActIn forceProvision 16 of 248
Section 14
(1)
Unless the Minister otherwise approves, no person shall—
(a)
subject to subsection 12(1), take control of a prescribed institution or its holding company; or
(b)
amalgamate or merge with any prescribed institution.
(2)
Any person who contravenes subsection (1) commits an offence and shall on conviction be liable to imprisonment for a term not exceeding ten years or to a fine not exceeding fifty million ringgit or to both.