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← Development Financial Institutions Act 2002

Development Financial Institutions Act 2002 s 27

Development Financial Institutions Act 2002 s 27

s 27 Restriction or prohibition of business

(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).

Read this section in the full act → · Open Part III →

Find Act 618 on lom.agc.gov.my ↗

Text as at 1 August 2016 (LOM reprint); amendments made after that date may not be incorporated.

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).

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