Development Financial Institutions Act 2002 · Updated to 6 Oct 2023 · Part III · Restrictions on Business
27. Restriction or prohibition of business
Feedback & supportExcept with the prior written approval of the Bank, a prescribed institution shall not carry on, whether on its own account or on a commission basis, and whether alone or with others, any activity in or outside Malaysia, otherwise than in connection with or for the purposes of carrying on its business.
Bank
“Bank” means the Central Bank of Malaysia established under the *Central Bank of Malaysia Act 2009;
(Deleted by Act A1502).
The Bank may, in the interest of promoting orderly development in any economic sector—
development
“development” includes the commencement of any new industrial, agricultural, commercial or other economic venture or the expansion or improvement of any such existing venture;
prohibit or restrict a prescribed institution from carrying on such description of business as it may specify; or
direct a prescribed institution to carry on such description of business as it may specify.
(Deleted by Act A1502).