s 21 Appointment of chief executive, etc.
(1) A credit reporting agency shall appoint a chief executive who shall satisfy the criteria as set out in the Third Schedule.
(2) The credit reporting agency shall notify the Registrar of the appointment of its chief executive within fourteen days from the date of the appointment.
(3) Where a person, who is a director or chief executive of a credit reporting agency, at any time does not satisfy the criteria as set out in the Third Schedule, he shall immediately cease to hold the office and act in such capacity, and the credit reporting agency concerned shall immediately terminate his appointment in such capacity.
(4) A credit reporting agency which contravenes subsection (1) or (2) commits an offence and shall, on conviction, be liable to a fine not exceeding two hundred thousand ringgit.
(5) A person who contravenes subsection (3) commits an offence and shall, on conviction, be liable to a fine not exceeding two hundred thousand ringgit.
(6) In the case of a continuing offence, the offender shall, in addition to the penalty under subsection (4) or (5), 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)
Pelantikan ketua eksekutif, dsb.
(1) Suatu agensi pelaporan kredit hendaklah melantik seorang ketua eksekutif yang hendaklah memenuhi kriteria yang dihuraikan dalam Jadual Ketiga.
(2) Agensi pelaporan kredit hendaklah memberitahu Pendaftar mengenai pelantikan ketua eksekutifnya dalam masa empat belas hari dari tarikh pelantikan itu.
(3) Jika seseorang, yang menjadi pengarah atau ketua eksekutif sesuatu agensi pelaporan kredit, pada bila-bila masa tidak memenuhi kriteria yang dihuraikan dalam Jadual Ketiga, dia hendaklah dengan serta-merta berhenti memegang jawatan itu dan bertindak atas sifat sedemikian, dan agensi pelaporan kredit yang berkenaan hendaklah dengan serta-merta menamatkan pelantikannya atas sifat sedemikian.
(4) Sesuatu agensi pelaporan kredit yang melanggar subseksyen (1) atau (2) melakukan suatu kesalahan dan boleh, apabila disabitkan, didenda tidak melebihi dua ratus ribu ringgit.
(5) Seseorang yang melanggar subseksyen (3) melakukan suatu kesalahan dan boleh, apabila disabitkan, didenda tidak melebihi dua ratus ribu ringgit.
(6) Dalam hal kesalahan yang berterusan, pesalah boleh, sebagai tambahan kepada penalti di bawah subseksyen (4) atau (5), didenda tidak melebihi sepuluh ribu ringgit bagi setiap hari atau sebahagian hari sepanjang kesalahan itu berterusan selepas disabitkan.
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Find Act 710 on lom.agc.gov.my β
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).
