Payment Systems Act 2003 s 24

This legislation has been repealed. Do not cite it as law in force.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 24

(1) Where the Bank is of the opinion that— (a) a payment instrument may be of widespread use as a means of making payment and may affect the payment systems of Malaysia; and (b) it is necessary to protect the interest of the public or it is necessary to maintain the integrity, efficiency and reliability of a payment instrument, the Bank may prescribe such payment instrument as a designated payment instrument. (2) Where a payment instrument is prescribed as a designated payment instrument, the issuer of that designated payment instrument shall comply with the requirements of subsection 25(1) within such period as the Bank may specify. Issuing of designated payment instruments

Malay text (authoritative)

Penetapan instrumen pembayaran

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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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