Development Financial Institutions Act 2002 · Updated to 6 Oct 2023 · Part III · Restrictions on Business
Official textFrom Laws of Malaysia Online, unchanged
A Shariah committee and every member of the Shariah committee shall have such functions and duties set out in any standards as may be specified by the Bank under subparagraph 33E(2)(a)(i).
Shariah committee
“Shariah committee” means the Shariah committee established under section 33F;
Bank
“Bank” means the Central Bank of Malaysia established under the *Central Bank of Malaysia Act 2009;
member
“member”, in relation to an institution which is— (a) a corporation, means a shareholder; and (b) a partnership, means a partner;
Shariah committee
“Shariah committee” means the Shariah committee established under section 33F;
standards
“standards” includes any obligation or requirement as specified by the Bank under this Act and such standards may contain any interpretative, incidental, supplemental, consequential and transitional provisions; *NOTE—The Companies Act 1965 has been repealed by the Companies Act 2016 which comes into operation on 31 January 2017–see subsection 620(1)…
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