Financial Services Act 2013

Financial Services Act 2013
Parliament of Malaysia
An Act to provide for the regulation and supervision of financial institutions, payment systems and other relevant entities and the oversight of the money market and foreign exchange market to promote financial stability and for related, consequential or incidental matters.
Citation Act 758
Territorial extent Throughout Malaysia
Enacted by Dewan Rakyat
Date passed 27 November 2012
Enacted by Dewan Negara
Date passed 19 December 2012
Date of Royal Assent 18 March 2013
Date commenced 22 March 2013
Date effective [30 June 2013, P.U. (B) 276/2013;[1]
s.129 and Schedule 9–1 January 2015, P.U. (B) 552/2014[2]]
Legislative history
Bill introduced in the Dewan Rakyat Financial Services Bill 2012
Bill citation D.R. 40/2012
Introduced by Awang Adek Hussin, Deputy Minister of Finance
First reading 22 November 2012
Second reading 27 November 2012
Third reading 27 November 2012
Bill introduced in the Dewan Negara Financial Services Bill 2012
Bill citation D.R. 40/2012
Introduced by Awang Adek Hussin, Deputy Minister of Finance
First reading 3 December 2012
Second reading 18 December 2012
Third reading 19 December 2012
Related legislation
Banking and Financial Institutions Act 1989 [Act 372]
Exchange Control Act 1953 [Act 17]
Insurance Act 1996 [Act 553]
Payment Systems Act 2003 [Act 627]
Status: In force

The Financial Services Act 2013 (Malay: Akta Perkhidmatan Kewangan 2013), is a Malaysian laws which enacted to provide for the regulation and supervision of financial institutions, payment systems and other relevant entities and the oversight of the money market and foreign exchange market to promote financial stability and for related, consequential or incidental matters.

Structure

The Financial Services Act 2013, in its current form (22 March 2013), consists of 18 Parts containing 281 sections and 16 schedules (including no amendment).

  • Part I: Preliminary
  • Part II: Regulatory Objectives and Powers and Functions of Bank
  • Part III: Authorization and Registration
  • Part IV: Payment Systems
  • Part V: Prudential Requirements
  • Part VI: Ownership, Control and Transfer of Business
  • Part VII: Financial Groups
  • Part VIII: Business Conduct and Consumer Protection
  • Part IX: Money Market and Foreign Exchange Market
  • Part X: Submission of Document or Information
  • Part XI: Examination
  • Part XII: Directions of Compliance
  • Part XIII: Intervention and Remedial Action
  • Part XIV: Other Powers of Bank
  • Part XV: Enforcement and Penalties
  • Part XVI: General Provisions
  • Part XVIII: Repeal, Savings and Transitional
  • Schedules

References

  1. ↑ "Financial Services Act 2013: Appointment of Date Coming into Operation" (PDF). Attorney General's Chamber of Malaysia. Retrieved 26 July 2016.
  2. ↑ "Financial Services Act 2013: Appointment of Date Coming into Operation" (PDF). Attorney General's Chamber of Malaysia. Retrieved 26 July 2016.
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