s 16 Revocation of registration
(1) The Registrar may revoke the registration of a credit reporting agency if he is satisfied that—
(a) the credit reporting agency has failed to comply with any of the provisions of this Act;
(b) the credit reporting agency has failed to comply with any of the conditions or restrictions imposed upon the issuance of the certificate of registration;
(c) the issuance of the certificate of registration was induced by a false representation of fact by the credit reporting agency;
(d) the credit reporting agency is in the course of being wound up or otherwise dissolved;
(e) a receiver, manager or receiver and manager or an equivalent person has been appointed in respect of any property of the credit reporting agency;
(f) the credit reporting agency has ceased to carry on the credit reporting business for a continuous period of three months;
(g) the credit reporting agency carries on the credit reporting business in addition to other businesses without the prior written approval of the Registrar under subsection 12(1); or
(h) the credit reporting agency surrenders its certificate of registration to the Registrar.
(2) Notwithstanding subsection (1), the Registrar shall not revoke the registration of the credit reporting agency unless the Registrar is satisfied that, after giving the credit reporting agency an opportunity of making any representation in writing it may wish to make, the registration should be revoked.
(3) Where the registration of the credit reporting agency is revoked, the Registrar shall issue a notice of revocation of registration to the credit reporting agency, and the certificate of registration issued in respect of such registration shall have no effect upon service of the notice of revocation of registration.
(4) A credit reporting agency whose registration has been revoked under this section and who continues to carry on the credit reporting business thereafter commits an offence and shall, upon conviction, be liable to a fine not exceeding one million ringgit or to imprisonment for a term not exceeding three years or to both.
(5) In the case of a continuing offence, the offender shall, in addition to the penalties under subsection (4), be liable to a fine not exceeding ten thousand ringgit for each day or part of a day during which the offence continues after conviction.
Malay text (authoritative)
Pembatalan pendaftaran
(1) Pendaftar boleh membatalkan pendaftaran suatu agensi pelaporan kredit jika dia berpuas hati bahawa—
(a) agensi pelaporan kredit itu tidak mematuhi mana-mana peruntukan Akta ini;
(b) agensi pelaporan kredit itu tidak mematuhi apa-apa syarat atau sekatan yang dikenakan apabila perakuan pendaftaran itu dikeluarkan;
(c) pengeluaran perakuan pendaftaran itu didorong oleh representasi palsu mengenai fakta oleh agensi pelaporan kredit itu;
(d) agensi pelaporan kredit itu sedang digulung atau selainnya dibubarkan;
(e) seorang penerima, pengurus atau penerima dan pengurus atau orang yang setara dengannya telah dilantik berkenaan dengan mana-mana harta agensi pelaporan kredit itu;
(f) agensi pelaporan kredit itu telah berhenti menjalankan perniagaan pelaporan kredit bagi tempoh yang berterusan selama tiga bulan;
(g) agensi pelaporan kredit itu menjalankan perniagaan pelaporan kredit sebagai tambahan kepada perniagaan lain tanpa kelulusan bertulis Pendaftar terlebih dahulu di bawah subseksyen 12(1); atau
(h) agensi pelaporan kredit itu menyerahkan balik perakuan pendaftarannya kepada Pendaftar.
(2) Walau apa pun subseksyen (1), Pendaftar tidak boleh membatalkan pendaftaran agensi pelaporan kredit itu melainkan jika Pendaftar berpuas hati bahawa, selepas memberi peluang kepada agensi pelaporan kredit itu untuk membuat apa-apa representasi bertulis yang dihasratinya untuk dibuat, pendaftaran itu patut dibatalkan.
(3) Jika pendaftaran agensi pelaporan kredit itu dibatalkan, Pendaftar hendaklah mengeluarkan suatu notis pembatalan pendaftaran kepada agensi pelaporan kredit itu, dan perakuan pendaftaran yang dikeluarkan berkenaan dengan pendaftaran itu hendaklah tidak mempunyai kuat kuasa apabila notis pembatalan pendaftaran itu disampaikan.
(4) Sesuatu agensi pelaporan kredit yang pendaftarannya telah dibatalkan di bawah seksyen ini dan yang terus menjalankan perniagaan pelaporan kredit selepas itu melakukan suatu kesalahan dan boleh, apabila
disabitkan, didenda tidak melebihi satu juta ringgit atau dipenjarakan selama tempoh tidak melebihi tiga tahun atau kedua-duanya.
(5) Dalam hal kesalahan yang berterusan, pesalah boleh, sebagai tambahan kepada penalti di bawah subseksyen (4), didenda tidak melebihi sepuluh ribu ringgit bagi setiap hari atau sebahagian hari sepanjang kesalahan itu berterusan selepas disabitkan.
Read this section in the full act → · Open Part III →
Find Act 710 on lom.agc.gov.my ↗
Text as at 1 August 2024 (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).
