Financial assistance
8.42
In the absence of a specific regulatory framework governing “scheduled institutions” in the Financial Services Act 2013 which replaces the Banking and Financial Institutions Act 1989 (“BAFIA”), Rule 8.25(4)(c) of the ACE LR has been deleted, which previously exempted scheduled institutions which were registered and supervised by Bank Negara Malaysia under the BAFIA from complying with the requirements in Rule 8.25. Does it mean that all corporations which were previously “scheduled institutions” under the BAFIA must now comply with Rule 8.25 in full?