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Main Category
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BUILDING CREDIT BUSINESS
The business of providing any credit facilities to any person for the purpose of
- the buying of immovable property or
- the reconstruction, construction or renovation of any building or other structure
for commercial, residential or industrial purposes or other business as may be prescribed by the Central Bank of Malaysia, with the approval of the Minister of Finance.
BUSINESS ASSOCIATE
Refer to a person which includes
- a banker, advocate, accountant, nominee, auditor or other person employed or appointed by such person at any time before or after the effective date.
- an institution where such person is a director and any other director of such institution
- if such person is a corporation
- any director of such corporation
- any associate or related corporation of such corporation and
- any business associate of such associate or related corporation of such corporation
- any person who has in possession of any property belonging to such person
- any person indebted to such person
- any person having any knowledge or information relating to the dealings, business, property or affairs of such person and
- any person acting in concert with such person
CHIEF EXECUTIVE
A person by whatever name he or she is called, who, either jointly or individually with one or more persons, is responsible, subject to the authority of the directors, for the conduct of the business and the administration of an institution.
CREDIT FACILITY
Credit facility means
- the giving of any advance, loan or other facility in whatever form or by whatever name called whereby the person to whom the same is given has access, indirectly or directly, to the funds of the person giving the same
- the giving of guarantee in relations to the obligations of any person or
- any other transaction or dealing as the Central Bank of Malaysia may prescribe.
CREDIT TOKEN BUSINESS
Any business where a token, being a cheque, card, voucher, stamps, booklet, coupon, form or other document or thing is given or issued to a person, referred to as customer, by the person carrying on the business, referred to as issuer, whereby such issuer undertakes
- that on the production of the token, whether or not some other action is also required, the issuer will supply cash, goods or services on credit or
- that where, on the production of the token to a third party, whether or not any other action is also required, the 3rd party supplies goods, cash or services, the issuer will pay the 3rd party for them, whether or not deducting any discount or commission, in return for payment to be made thereafter to the issuer by the customer.
and for the purposes of this definition, the use of a token to operate a machine provided by the issuer or by a third party shall be regarded as the production of the token to the person providing the machine.
DEPOSIT
A sum of money paid or received on terms
- under which it will be repaid, with or without interest or at a premium or discount or
- under which it is repayable, either wholly or in part, with any consideration in money or money's worth
and such repayment being either at a time or on demand in circumstances agreed by or on behalf of the person making the payment and the person receiving it, regardless whether the transaction is described as a loan, an investment, a sale, and advance, a saving, or a sale and repurchase but does not include money paid bona fide
- by way of an advance or a part payment under a contract for the sale, hire or other provision of property or services, and is repayable only in the event that the property or services is not or are not in fact sole, hired or otherwise provided
- by way of security for the performance of a contract or by way of security in respect of any loss which may result from the non-performance of a contract.
- without prejudice to the above paragraph, by way of security for the delivery up or return of any property, whether in a particular state of repair or otherwise and
- in such other circumstances, or to or by such other person, as specified in the First Schedule of the Banking and Financial Institutions Act 1989.
DEPOSITOR
A person entitled to repayment of a deposit, whether made by him or her or by other person
DEVELOPMENT FINANCE BUSINESS
Refers to
- the business of providing capital or other credit facility on terms which would require the same to be utilized for industrial, agricultural, commercial or other economic development, and for the purposes of this definition, "development" includes the commencement of any new industrial, agricultural, commercial or other economic venture or the expansion or improvement of any such existing venture or
- such other business as may be prescribed by the Central Bank of Malaysia, with the approval of the Minister of Finance
DOCUMENT
Document includes
- any letters, marks, signals, figures, symbols, inscriptions, caricature, writing, picture, sign, drawing or other representation whatsoever in any form and
- any visual recording, whether of still or moving images, any sound recording, or any electronic, mechanical, magnetic or other recording whatsoever, and howsoever made
on any substance, thing, material or article.
ELECTRONIC FUND TRANSFER
Transfer of funds,
- other than transaction originated by draft, cheque, or similar instrument, which is initiated, regardless at which stage it was initiated, through an telephonic instrument or electronic terminal or computer or magnetic tape or other storage device so as to order, authorize or instruct any person to credit or debit an amount, and includes direct deposits or point-of-sale transfers or withdrawals of funds, automated teller machine transactions, and transfers initiated or transmitted by telephone.
ELECTRONIC TERMINAL
An electronic device, other than a person operated telephone, through which a person may initiate an electronic fund transfer, and includes point-of-sale terminals, automated teller machines, and cash dispensing machines.
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