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← Labuan Islamic Financial Services and Securities Act 2010

Labuan Islamic Financial Services and Securities Act 2010 s 75

Labuan Islamic Financial Services and Securities Act 2010 s 75

s 75 Payment from a deceased person’s account

(1) Notwithstanding any written law, an Islamic bank licensee may, without the production of letters of probate or letters of administration, pay any sum not exceeding the equivalent of five thousand ringgit standing to the credit of a deceased person to any person who produces satisfactory proof of— (a) the death of such deceased person; and (b) his entitlement under the law to the sum standing to the credit of such deceased person. (2) An Islamic bank licensee shall not make any payment under subsection (1) if it has received other claims to any money standing to the credit of the deceased person. (3) An Islamic bank licensee or its directors or officers shall not be liable in respect of any claim by any person in connection with any payment made in accordance with this section but such person may recover any sum lawfully due to him from the person to whom such payment has been made.

Malay text (authoritative)

Pembayaran daripada akaun si mati

(1) Walau apa pun apa-apa undang-undang bertulis, pemegang lesen bank Islam boleh, tanpa mengemukakan surat kuasa probet atau surat kuasa mentadbir, membayar apa-apa jumlah wang yang tidak melebihi jumlah yang bersamaan dengan lima ribu ringgit yang terdapat pada kredit si mati kepada mana-mana orang yang mengemukakan bukti yang memuaskan hati mengenai— (a) kematian si mati itu; dan (b) haknya di bawah undang-undang terhadap jumlah wang yang terdapat pada kredit si mati. (2) Pemegang lesen bank Islam tidak boleh membuat apa-apa pembayaran di bawah subseksyen (1) jika pemegang lesen bank Islam itu telah menerima tuntutan lain terhadap apa-apa wang yang terdapat pada kredit si mati. (3) Pemegang lesen bank Islam atau pengarahnya atau pegawainya tidak boleh bertanggungan berkenaan dengan apa-apa tuntutan oleh mana-mana orang berkaitan dengan apa-apa pembayaran yang dibuat mengikut seksyen ini tetapi orang itu boleh mendapatkan balik jumlah wang yang kena dibayar kepadanya secara sah daripada orang yang kepadanya pembayaran itu telah dibuat.

Read this section in the full act → · Open Chapter 3 →

Find Act 705 on lom.agc.gov.my ↗

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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