Financial Services Act 2013 s 155

s 155 Circumstances for exercising power to issue directions

The Bank may issue one or more of the directions specified in section 156 if the Bank is of the opinion that an institution, its director, chief executive officer or senior officer— (a) is committing or is about to commit an act, or is pursuing or is about to pursue any course of conduct, that is unsafe or unsound or has failed to commit an act or pursue a course of conduct that is necessary to maintain the safety and soundness of the institution; (b) is carrying on business in a manner detrimental to the interests of depositors, policy owners, participants, users, creditors or the public generally; (c) has failed to manage its business or affairs in a manner that is consistent with sound risk management and good governance practices; (d) has failed to comply with any standards, notice, condition, specification, requirement, restriction, direction or code specified, issued or made under this Act or a direction under subsection 214(6) or section 216 regardless that there has been no prosecution or other action in respect of such non-compliance; (e) has breached or contravened any provision of this Act, the Central Bank of Malaysia Act 2009 or any written law, other than securities laws as defined in the Securities Commission Act 1993, regardless that there has been no prosecution or other action in respect of the breach or contravention; or (f) has failed to ensure the safety, efficiency and reliability of the payment system or payment instrument, having regard, inter alia, to the reasonableness of admission criteria for participating in the payment system and the overall cost to the participants or users of, or any other persons involved with, the payment system or payment instrument.

Malay text (authoritative)

Hal keadaan bagi melaksanakan kuasa untuk mengeluarkan arahan

Bank boleh mengeluarkan satu atau lebih arahan yang ditentukan dalam seksyen 156 sekiranya pada pendapat Bank bahawa institusi, pengarahnya, ketua pegawai eksekutifnya atau pegawai kanannya— (a) sedang melakukan atau akan melakukan suatu perbuatan, atau sedang menuruti atau akan menuruti apa-apa pelakuan, yang tidak selamat atau tidak wajar atau gagal untuk melakukan suatu perbuatan atau menuruti suatu pelakuan yang perlu untuk mengekalkan keselamatan dan kekukuhan institusi; (b) sedang menjalankan perniagaan dengan cara yang memudaratkan kepentingan pendeposit, pemunya polisi, peserta, pengguna, pemiutang atau orang awam secara am; (c) telah gagal untuk menguruskan perniagaannya atau hal ehwalnya dengan cara yang selaras dengan pengurusan risiko yang wajar dan amalan tadbir urus yang baik; (d) telah gagal untuk mematuhi apa-apa standard, notis, syarat, penentuan, kehendak, sekatan, arahan atau kod yang ditentukan, dikeluarkan atau dibuat di bawah Akta ini atau suatu arahan di bawah subseksyen 214(6) atau seksyen 216 tidak kira bahawa tiada pendakwaan atau tindakan lain berkenaan dengan ketidakpatuhan itu; (e) telah memungkiri atau melanggar mana-mana peruntukan Akta ini, Akta Bank Negara Malaysia 2009 atau mana-mana undang-undang bertulis, selain undang-undang sekuriti sebagaimana yang diertikan dalam Akta Suruhanjaya Sekuriti 1993, tidak kira bahawa tiada pendakwaan atau tindakan lain berkenaan dengan kemungkiran atau pelanggaran itu; atau (f) telah gagal untuk memastikan keselamatan, kecekapan dan kebolehpercayaan sistem pembayaran atau instrumen pembayaran itu, mengambil kira, antara lain, kemunasabahan kriteria kemasukan untuk menyertai sistem pembayaran dan kos keseluruhan kepada peserta atau pengguna, atau mana-mana orang lain yang terlibat dengan, sistem pembayaran atau instrumen pembayaran itu.

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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).

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