Malaysia Deposit Insurance Corporation Act 2011 s 112
s 112 Assignment not a default, etc.
(1) No person may terminate or amend any agreement with a member institution or claim an accelerated payment under any such agreement by reason of the agreement being transferred or assigned to or assumed by another member institution, a bridge institution or a qualified third party.
(2) A transfer or assignment of any agreement with a member institution to another member institution, a bridge institution or a qualified third party pursuant to this Act is valid and binding on all other parties to the agreement notwithstanding that the member institution agreed that it could not or would not assign the agreement or that it could or would assign the agreement only with the consent of another person or persons.
Malay text (authoritative)
Penyerahhakan bukan keingkaran, dsb.
(1) Tiada seorang pun boleh menamatkan atau meminda apa-apa perjanjian dengan suatu institusi anggota atau menuntut supaya suatu bayaran dipercepat di bawah apa-apa perjanjian sedemikian disebabkan perjanjian itu dipindahkan atau diserahhakkan kepada atau diambil alih oleh institusi anggota lain, institusi perantaraan atau pihak ketiga yang layak.
(2) Suatu pemindahan atau penyerahhakan apa-apa perjanjian dengan suatu institusi anggota kepada institusi anggota lain, institusi perantaraan atau pihak ketiga yang layak menurut Akta ini adalah sah dan mengikat terhadap semua pihak lain perjanjian itu walaupun institusi anggota itu telah bersetuju bahawa ia tidak boleh atau tidak akan menyerahhakkan perjanjian itu atau ia boleh atau akan menyerahhakkan perjanjian itu hanya dengan persetujuan orang atau beberapa orang yang lain.
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Find Act 720 on lom.agc.gov.my ↗
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).
