A191 GLUL 3093

BANKING LAW

GROUP A

TOPIC :

SCHEDULE 11 FINANCIAL SERVICES ACT 2013

DATE :

13 OCTOBER 2019

PREPARED FOR:

Lecturer’s Name: Dr. Aspalella Bt A. Rahman

SUBMITTED BY :

BIL NAME MATRIC NO

1 Nur Tasneem Binti Mohd Zin 259018
 Schedule 11 (Section 146)

PERMITTED DISCLOSURES

FIRST COLUMN SECOND COLUMN

Purposes for or circumstances in which Persons to whom documents or information

customer documents or information may be may be disclosed
disclosed

1. Documents or information which is permitted in
writing by the customer, the executor or
administrator of the customer, or in the case of a
customer who is incapacitated, any other legal
personal representative.
Any person whom an Islamic financial institution in
good faith believes is entitled to obtain a Faraid
certificate, the grant of probate, letters of
administration or a distribution order

2. In connection with an application for a Faraid
certificate, grant of probate, letters of
administration or a distribution order under the
Small Estates (Distribution) Act 1955 [Act 98] in
respect of a deceased customer’s estate
All persons to whom the disclosure is necessary in
connection with the bankruptcy or winding up or
dissolution

3. In a case where the customer is declared All persons to whom the disclosure is necessary
bankrupt, is being or has been wound up or for the purpose of the criminal proceedings or civil
dissolved in Malaysia or in any country, territory proceedings.
or place outside Malaysia.

4. Any criminal proceedings or civil proceedings

between an Islamic financial institution and—
 (a) its customer, his surety or guarantor relating
to the customer’s transaction;

(b) two or more parties making adverse claims to

money in a customer’s account where the Islamic
financial institution seeks relief by way of
interplead

(c) one or more parties in respect of property in

or over which some right or interest has been
conferred on the Islamic financial institution

5. Compliance by a licensed Islamic bank which All persons to whom the disclosure is required to
has been served a garnishee order attaching be made under the garnishee order
moneys in the account of a customer.

6. Compliance with a court order made by a court All persons to whom the disclosure is required to
not lower than a Sessions Court. be made under the court order.

7. Compliance with an order or request made by An investigating officer authorized under the
an enforcement agency in Malaysia under any written law to investigate or any officer authorized
written law for the purposes of an investigation or to carry out prosecution or any court.
prosecution of an offence under any written law

8. Performance of functions of the Malaysia
Deposit Insurance Corporation
Any director or officer of the Malaysia Deposit
Insurance Corporation or any other person,
authorized by the Malaysia Deposit Insurance
Corporation to receive the documents or
information.
 9. Disclosure by a licensed Islamic bank for the Any officer of the approved trade repository
purpose of performance of functions of an authorized to receive the documents or
approved trade repository under the Capital information.
Markets and Services Act 2007

10. Documents or information is required by the Any officer of Inland Revenue Board of Malaysia
Inland Revenue Board of Malaysia under section authorized to receive the documents or
81 of the Income Tax Act 1967 for purposes of information.
facilitating exchange of information pursuant to
taxation arrangements or agreements having
effect under section 132 or 132a of the Income
Tax Act 1967.

11. Disclosure of credit information of a customer Any officer of credit reporting agency authorized
to a credit reporting agency registered under the to receive the documents or information.
Credit Reporting Agencies Act 2010 [Act 710] for
purposes of carrying on credit reporting business
as defined in the Credit Reporting Agencies Act
2010.

12. Performance of any supervisory functions, Any officer of the relevant authority authorized to
exercise any of supervisory powers or discharge receive the documents or information.
any of supervisory duties by a relevant authority
outside Malaysia which exercises functions
corresponding to those of the Bank under this Act

13. Conduct of centralized functions, which The head office or holding company of an Islamic
include audit, risk management, finance or financial institution whether in or outside Malaysia
information technology or any other centralized or any other person designated by the head office
function within the financial group. or holding company to perform such functions