Section 25
of Development Financial Institutions Act 2002
ActIn forceProvision 27 of 248
Section 25
(1)
Unless the Bank otherwise approves in writing, no prescribed institution shall establish or acquire any subsidiary in or outside
Malaysia, or acquire or hold any material interest in any corporation.
(2)
(Deleted by Act A1502).
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(3)
The Bank may approve an application to establish or acquire a subsidiary or acquire or hold any material interest in any corporation, under subsection (1), with or without conditions, or reject the application.
(4)
Every prescribed institution shall at all times comply with any condition as may be specified by the Bank under subsection (3).
(5)
The Bank may specify what constitutes “material interest” for the purposes of subsection (1) and paragraph 26(1)(d).