Malaysia Deposit Insurance Corporation Act 2011 Chapter 4 — Officers and employees, etc

s 21–s 22 · 2 sections

Appointments, terms and conditions of service

s 21

(1) The Corporation may appoint such officers and employees as are necessary to carry on the business and affairs of the Corporation and such officers and employees shall hold office for such periods, receive such compensation and any other remuneration, and shall be subject to such terms and conditions of service as may be determined by the Board. (2) An officer or employee of the Corporation shall, at all times, act in good faith and comply with such requirements, standards, duties and code of conduct including surcharge as may be provided in the by-laws made by the Board under paragraph 12(1)(a). (3) The Corporation may, with the approval of the Board, establish and maintain a pension or provident fund for its officers and employees out of the monies of the Corporation.

Financial assistance to officers, employees and other persons

s 22

The Corporation may provide— (a) subsidies, grants, Islamic financing facilities or conventional credit facilities, with or without return or interest, for the acquisition of housing or vehicle or for medical purposes or for compassionate financing or loans, to its officers and employees; (b) Islamic financing facility or conventional credit facility, with or without return or interest, for educational purposes or scholarships to its officers and employees or any other person; and (c) donations to any person, on such terms and conditions as the Board may determine.

Back to Malaysia Deposit Insurance Corporation Act 2011 — full text

Provisions on this page are reproduced verbatim from official open data. See the attribution line.

Text as at 21 July 2023 (LOM reprint); amendments made after that date may not be incorporated. Read the official text ↗

Source: Laws of Malaysia, Attorney General's Chambers of Malaysia (lom.agc.gov.my). Not a copy of the Gazette printed by the Government Printer (Interpretation Acts 1948 and 1967, s 61).

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