My bookmarksSign up free
← Development Financial Institutions Act 2002

Development Financial Institutions Act 2002 s 37

Development Financial Institutions Act 2002 s 37

s 37 Maintenance of liquid assets

(1) The Bank may specify that a prescribed institution shall hold such minimum, or minimum average, amount of liquid assets in Malaysia as may be set out in the specification at all times or for such period, and in such ratio or formula. (2) (Deleted by Act A1502). (3) For the purpose of subsection (1), the minimum, or minimum average, amount of liquid assets shall be expressed as a percentage of all or such of its liabilities incurred by its offices in Malaysia as may be set out in the specification. (4) For the purpose of subsection (1), the Bank shall specify a period of not less than seven days within which a prescribed institution shall comply with the specification. (5) (Deleted by Act A1502). (6) The Bank may prohibit any prescribed institution from giving any financing facilities to any person during the period in which the prescribed institution has failed to comply with any requirement of a specification under this section.

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

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).

What to look at next