s 217 Power of Minister to declare holiday for licensed person
(1) The Minister may, on the recommendation of the Bank, by notice in the Gazette, declare any day to be a holiday for all licensed persons, or for any class, category or description of licensed persons, or for such offices of such licensed persons, throughout, or in any part of, Malaysia, as may be specified in the notice. (2) No licensed person, or the office of the licensed person specified in the notice, shall carry on any business on any day declared as a holiday for such licensed person under subsection (1) unless the Minister, on the recommendation of the Bank, otherwise approves. (3) Where a day is declared to be a holiday under subsection (1)— (a) the licensed person or its office specified in the notice is not compellable on such holiday to make a payment or to do any other act that it would not be compellable to do on any day which is public holiday within the meaning of any law relating to public holidays; and (b) no person shall be compellable to make any payment on such holiday in or at a licensed person or its office specified in the notice, or to do in or at a licensed person or its office specified in the notice any act requiring the services of such licensed person, and the obligation to make the payment or to do the act shall be deemed to be an obligation to make the payment or to do the act on the next day which is not a public holiday within the meaning of any law relating to public holidays. (4) A day declared as a holiday for a licensed person or its office under subsection (1) shall not necessarily be a public holiday and nothing in this section shall affect the operation of any law relating to public holidays. (5) Any declaration of a holiday made under subsection (1) shall not— (a) invalidate any contract, agreement, transaction or arrangement entered into by the licensed person with any person; and (b) affect any right, obligation or liability arising under such agreement, transaction or arrangement.