Section 20

No finance company shall engage. whether on its own account or on a commission basis, and whether alone or with others, in the wholesale or retail trade, including the import or export trade, except for the purpose of carrying on its financing business or Islamic financing business.

Except as provided in this Act. a licensed finance company shall not carry on any kind of business other than financing business or Islamic financing business.

Restrictions on investments by finance companies 21.

No finance company shall acquire or hold any part of the share capital of, or otherwise have a direct interest in, any financial, commercial, agricultural, industrial or other undertaking exceeding in the aggregate 25

per cent of the paid-up share capital and published reserves of that finance company except such shareholding as the finance company may acquire in the course of realising debts due to it, which shareholding shall however, be disposed of at the earliest suitable moment.

Notwithstanding the provisions of subsection (1): the percentage holding or interest referred to in that subsection may upon application of a finance company to the Authority, and with the consent of the Authority, be increased to not more than 50 per cent of the paid-up share capital and published reserves of that finance company.