Regulatory and Supervisory Authority
s 34
(1) A Regulatory and Supervisory Authority referred to in this Act shall consist of any of the following body: (a) the Commission; (b) the Central Bank of Malaysia; (c) the Securities Commission Malaysia; (d) the Ministry of Domestic Trade and Cost of Living; (e) the Ministry of Housing and Local Government; and (f) the Malaysia Co-operative Societies Commission. (2) A Regulatory and Supervisory Authority shall have all the functions to regulate and supervise the following persons which are regulated by the Regulatory and Supervisory Authority: (a) credit providers carrying on credit business as set out in Schedule 2; or (b) credit service providers carrying on credit service business as set out in Schedule 3. (3) For the purposes of subsection (2), the powers of a Regulatory and Supervisory Authority shall include the power to— (a) impose fees or other charges; (b) examine the business and affairs of a credit provider or credit service provider regulated by the Regulatory and Supervisory Authority; (c) impose monetary penalty under section 106; (d) cause an investigation to be made and exercise all the powers of investigation on matters relating to credit business or credit service business regulated by the respective Regulatory and Supervisory Authority; (e) specify standards or guidelines for any matter under section 123; (f) issue guidance under section 125; (g) publish information under section 126; and (h) do anything incidental to any of its functions and powers. (4) For the purposes of this section, a Regulatory and Supervisory Authority shall perform such functions and exercise such powers under this Act in a way which it considers most appropriate for the purpose of this Act. (5) The functions and powers of the Regulatory and Supervisory Authority under this Act are in addition to, and not in derogation of, the functions and powers of the Regulatory and Supervisory Authority under other relevant written laws.