Payment Systems Act 2003 s 10

This legislation has been repealed. Do not cite it as law in force.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 10 Appointment of chief executive officer

(1) A person is disqualified from being appointed or remaining as chief executive officer of an operator of a designated payment system it— (a) that person would be disqualified from being appointed a director under subsection 9(1); (b) that person is not available for full time employment; or (c) that person is carrying on any other business or vocation, except as a non-executive director or shareholder of another company. (2) No person shall accept an appointment as chief executive fficer of an operator of a designated payment system, and no suc perator shall appoint a person as chief executive officer of suc operator, if that person is disqualified under subsection (1). (3) An operator of a designated payment system shall appoint a chief executive officer who shall be— (a) an individual; and (b) resident in Malaysia during the period of his appointment. Exceptions

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Find Act 627 on lom.agc.gov.my ↗

Text as at 1 January 2006 (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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