This legislation has been repealed. Do not cite it as law in force.
Text recovered by OCR from a scanned copy — section numbers and wording may be wrong. Check the official PDF on lom.agc.gov.my before citing.
s 12
(1) Where an order of revocation becomes effective Effect of under section 11— revocation of licence.
(a) notice of the revocation shall be published in the Gazette; and
(b) the Islamic bank shall as from the date of the notice cease to transact any banking business in Malaysia except as may be approved by the :Minister on the recommendation of the Central Bank for the purposes of winding up of its banking business.
(2) The provisions of paragraph (b) of subsection (1) shall not prejudice the enforcement by any person of any right or claim against the bank or by the bank of any right or claim against any person.
Malay text (authoritative)
(1) Jika sesuatu perintah pembatalan berkuatkuasa Kesan-kesan di bawah seksyen 1ilesen.
(a) notis pembatalan itu hendaklah disiarkan dalam Warta; dan
(b) bank Islam itu hendaklah mulai dari tarikh notis itu berhenti daripada menguruskan apaapa perniagaan bank di Malaysia kecuali sebagaimana yang diluluskan oleh Menteri atas syor Bank Negara bagi maksud-maksud menggulung perniagaan banknya.
(2) Peruntukan-peruntukan paragraf (b) subseksyen
(1) tidak boleh menyentuh penguatkuasaan oleh seseorang akan sesuatu hak atau tuntutan terhadap bank atau oleh bank akan sesuatu hak atau tuntutan terhadap seseorang.
Penyiaran senarai bank Islam. ins.by 7171214/83 [Bah. II-III, S. 13-15]
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).
