s 51 Restriction on payment of dividend by licensed person
(1) No licensed person shall declare or pay any dividend on its shares except with the prior written approval of the Bank or where the Bank has specified standards permitting the declaration of payments of any dividend under subsection 47(1).
(2) Where there is an application made by a licensed person for approval under subsection (1) in respect of the proposed amount of dividend to be declared, the Bank shall, in considering whether or not to grant an approval on the proposed amount or approve a reduced amount of dividend payment, have regard to the prevailing and prospective financial condition of the licensed person including its ability to comply with any standards as may be specified by the Bank under paragraph 47(2)(a).
Malay text (authoritative)
Sekatan atas pembayaran dividen oleh orang berlesen
(1) Tiada orang berlesen pun boleh mengisytiharkan atau membayar apa-apa dividen atas syernya kecuali dengan kelulusan bertulis terdahulu Bank atau jika Bank telah menentukan standard yang membenarkan pengisytiharan pembayaran apa-apa dividen di bawah subseksyen 47(1).
(2) Jika terdapat suatu permohonan yang dibuat oleh orang berlesen untuk kelulusan di bawah subseksyen (1) berkenaan dengan amaun dividen yang dicadangkan untuk diisytiharkan, Bank hendaklah, dalam mempertimbangkan sama ada untuk memberi suatu kelulusan bagi amaun yang dicadangkan atau meluluskan suatu amaun pembayaran dividen yang dikurangkan, mengambil kira keadaan kewangan semasa dan hadapan orang berlesen itu termasuk keupayaannya untuk mematuhi mana-mana standard yang ditentukan oleh Bank di bawah perenggan 47(2)(a).
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).
