Malaysia Deposit Insurance Corporation Act 2011 s 111
Malaysia Deposit Insurance Corporation Act 2011 s 111
s 111 Validity of security
The Corporation may create, perfect or enforce or cause the creation or perfection of any security over any asset of a member institution for any consideration granted in relation to the exercise of any powers under this Act—
(a) notwithstanding section 109 or any other provision of this Act; and
(b) notwithstanding that the member institution agreed that it could not or would not create any security over any of its assets or that it could or would create such security only with the consent of another person or persons.
Malay text (authoritative)
Kesahan cagaran
Perbadanan boleh membuat, menyempurnakan atau menguatkuasakan atau menyebabkan pembuatan atau penyempurnaan apa-apa cagaran terhadap mana-mana aset suatu institusi anggota sebagai apa-apa balasan berhubung dengan penjalanan mana-mana kuasa di bawah Akta ini—
(a) walau apa pun seksyen 109 atau mana-mana peruntukan lain Akta ini; dan
(b) walaupun institusi anggota itu telah bersetuju bahawa ia tidak boleh atau tidak akan membuat apa-apa cagaran terhadap mana-mana asetnya atau ia boleh atau akan membuat cagaran itu hanya dengan persetujuan orang atau orang-orang lain.
Text as at 21 July 2023 (LOM reprint); amendments made after that date may not be incorporated.
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).
