Short title and commencement
(1) This Act may be cited as the Central Bank of Malaysia Act 2009. (2) This Act comes into operation on a date to be appointed by the Minister by notification in the Gazette and the Minister may appoint different dates for the coming into operation of different parts or different provisions of this Act.
Interpretation
(1) In this Act, unless the context otherwise requires— “Bank” means Bank Negara Malaysia or in English, the “Central Bank of Malaysia”; “Board” means the Board of Directors of the Bank; “Board Audit Committee” means the Board Audit Committee established under paragraph 21(1)(b); “Board Governance Committee” means the Board Governance Committee established under paragraph 21(1)(a); “Board Risk Committee” means the Board Risk Committee established under paragraph 21(1)(c); “capital instruments” means preference shares, loan stocks, subordinated term debts or other instruments approved by the Bank to be eligible as capital; “constituent document”, in relation to a body corporate or unincorporate, means any document or instrument, under or by which the body is constituted, established, incorporated, or its governing and administrative structure, the scope of its functions, business, powers or duties are set out, whether contained in one or more but not limited to the following documents or instruments: (a) statute; (b) charter; (c) memorandum of association; (d) articles of association; (e) constitution; (f) rules or by-laws; and (g) partnership agreement; “Deputy Governor” means a Deputy Governor of the Bank; “derivatives” means financial instruments including an option, a swap, a futures or forward contract or any other financial product or any combination of such instruments whose market price, value, delivery or payment obligations are derived from, referenced to or based on, but not limited to, underlying securities or commodities prices, assets, rates (including interest rates or exchange rates) or indices; “director” means a director of the Bank appointed under subsection 16(1), and includes the Governor and the Deputy Governors; “financial institution” means a person carrying on a financial business regulated under the laws enforced by the Bank and in addition includes any— (a) person who operates any payment system or issues any payment instrument; and (b) person carrying on any other financial business as the Minister may prescribe; “financial markets” includes the money market, the foreign exchange market, the capital market and the derivatives market; “Financial Stability Executive Committee” means the Financial Stability Executive Committee established under section 37; “financing” means the giving of any advance, loan, credit or other facility in whatever form or by whatever name called, including the giving of a guarantee or undertaking of any surety obligations for another person and where such financing is extended in accordance with the Shariah shall include, and may be in the form of, without limitation, any sale or purchase arrangement, joint venture arrangement, deferred payment sale, return sharing arrangement or any other financing arrangement made in accordance with the Shariah; “foreign currency” means currency notes or coins which are legal tender in any country, territory or place outside Malaysia and any reference to foreign currency in this Act includes a reference to any right to receive foreign currency in respect of any credit or balance at a bank or any other similar institution in or outside Malaysia; “Governor” means the Governor of the Bank; “international financial institution” means any institution which is established in or outside Malaysia by more than one country, central bank or monetary authority in relation to financial or monetary matters and includes the Asian Development Bank, the Bank for International Settlements, the International Bank for Reconstruction and Development, the International Monetary Fund, the Islamic Development Bank and the Islamic Financial Services Board; “Islamic financial business” means any financial business in ringgit or other currency which is subject to the laws enforced by the Bank and consistent with the Shariah; “Islamic financial institution” means a financial institution carrying on Islamic financial business; “Minister” means the Minister charged with the responsibility for finance; “Monetary Policy Committee” means the Monetary Policy Committee established under section 23; “officer” means any officer of the Bank appointed under section 83; “payment systems” means any system or arrangement for the transfer, clearing or settlement of funds or securities; “prescribed” means prescribed under the Act from time to time by order published in the Gazette; “related corporation”, in relation to a corporation, means a corporation which is deemed to be related to the first-mentioned corporation under section 6 of the Companies Act 1965 [Act 125]; “repealed Act” means the Central Bank of Malaysia Act 1958 [Act 519]; “return” includes any form of rental, profit, dividend or benefit, including any fee or gift, payable or to be given in relation to financing extended in accordance with the Shariah; “Shariah Advisory Council” means the Shariah Advisory Council on Islamic Finance established under section 51; “specified” means specified under the Act from time to time in writing; “supervisory authority” means any authority, body or agency in or outside Malaysia other than the Bank which is responsible for the supervision or oversight of any financial institution, financial market, capital market intermediary or participant or payment system. (2) For the purposes of this Act— “Board Committees” refers collectively to the committees of the Board established under section 21; “financial business” refers collectively to conventional financial business and Islamic financial business; “financial system” refers collectively to financial institutions, capital market intermediaries or participants, financial markets and payment systems in Malaysia. (3) For the purposes of this Act— (a) a power to prescribe includes the power to make different provisions in the order, for different persons or different classes, categories or descriptions of persons; and (b) a power to specify includes the power to specify differently for different persons or different classes, categories or descriptions of persons. (4) A reference to a financial institution or person includes a reference to a class, category or description of such institution or person. (5) Where under this Act, power is given to the Bank to require any person, or where any person is required under this Act, to submit to the Bank any data, information or document— (a) the Bank may specify that the data, information or document shall be submitted, within a period, at such intervals, in the manner or form as the Bank may set out in the specification; and (b) such person shall not submit any data, information or document— (i) which he knows, or has reason to believe, to be false, incomplete, inaccurate or misleading; or (ii) in respect of which there is a material error or omission.
Provisions on this page are reproduced verbatim from official open data. See the attribution line.
Source: Laws of Malaysia, Attorney General's Chambers of Malaysia (lom.agc.gov.my). Not a copy of the Gazette printed by the Government Printer (Interpretation Acts 1948 and 1967, s 61).