Financial Services Act 2013 s 10
s 10 Grant of licence by Minister
(1) In assessing an application duly made under section 9 to carry on any licensed business, the Bank shall have regard to all the factors set out in Part 1 and Part 2 of Schedule 5 and such other matters that the Bank considers relevant.
(2) Upon making an assessment under subsection (1) and where the Bank is satisfied that such applicant may be granted a licence, the Bank shall make a recommendation to the Minister to grant a licence under subsection (4) with or without conditions.
(3) The Bank shall notify the applicant in writing if the Bank does not make a recommendation to the Minister under subsection (2).
(4) Where the Bank makes a recommendation pursuant to subsection (2), the Minister may grant a licence to the applicant to carry on banking business, insurance business or investment banking business, with or without conditions.
(5) The Bank shall notify the applicant in writing of the decision of the Minister under subsection (4).
(6) Where the Minister grants a licence under subsection (4), a licensed person shall commence its licensed business within a period or such further period as may be specified by the Minister, on the recommendation of the Bank.
Malay text (authoritative)
Pemberian lesen oleh Menteri
(1) Dalam menilai suatu permohonan yang dibuat dengan sempurnanya di bawah seksyen 9 untuk menjalankan apa-apa perniagaan berlesen, Bank hendaklah mengambil kira semua faktor yang dinyatakan dalam Bahagian 1 dan Bahagian 2 Jadual 5 dan apa-apa perkara lain yang Bank berpendapat adalah berkaitan.
(2) Apabila membuat suatu penilaian di bawah subseksyen (1) dan jika Bank berpuas hati bahawa pemohon itu boleh diberikan suatu lesen, Bank hendaklah membuat suatu syor kepada Menteri untuk memberikan suatu lesen di bawah subseksyen (4) dengan atau tanpa syarat.
(3) Bank hendaklah memberitahu pemohon secara bertulis sekiranya Bank tidak membuat suatu syor kepada Menteri di bawah subseksyen (2).
(4) Jika Bank membuat suatu syor menurut subseksyen (2), Menteri boleh memberikan suatu lesen kepada pemohon untuk menjalankan perniagaan perbankan, perniagaan insurans atau perniagaan perbankan pelaburan, dengan atau tanpa syarat.
(5) Bank hendaklah memberitahu pemohon itu secara bertulis keputusan Menteri di bawah subseksyen (4).
(6) J i k a M e n t e r i m e m b e r i k a n s u a t u l e s e n d i b a w a h subseksyen (4), orang berlesen hendaklah memulakan perniagaan berlesennya dalam suatu tempoh atau mana-mana tempoh lanjut sebagaimana yang ditentukan oleh Menteri, atas syor Bank.
Read this section in the full act → · Open Division 1 →
Find Act 758 on lom.agc.gov.my ↗
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).
