Section 27
Restriction or prohibition of business
of Development Financial Institutions Act 2002
ActIn forceProvision 29 of 248
Section 27
(1)
Except 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.
(2)
(Deleted by Act A1502).
(3)
The Bank may, in the interest of promoting orderly development in any economic sector—
(a)
prohibit or restrict a prescribed institution from carrying on such description of business as it may specify; or
(b)
direct a prescribed institution to carry on such description of business as it may specify.
(4)
(Deleted by Act A1502).