Malaysia Deposit Insurance Corporation Act 2011 s 116
Malaysia Deposit Insurance Corporation Act 2011 s 116
s 116 Corporation, etc., not a successor employer
Where the Corporation or the appointed person under paragraph 99(1)(c) assumes control of a member institution, or a receiver or liquidator is appointed pursuant to this Act, the Corporation, the appointed person, the receiver or liquidator shall not—
(a) be regarded as a successor employer to the member institution;
(b) be liable for any obligation in respect of the employees or former employees of the member institution or any predecessor of the member institution that exists prior to the assumption of control or appointment in respect of any
pension plan or other post-employment benefit plan for the employees or former employees of the member institution or their survivors; or
(c) be liable for any sum calculated by reference to a period of time prior to the bridge institution becoming the employer of the person in question.
Malay text (authoritative)
Perbadanan, dsb., bukan majikan pengganti
Jika Perbadanan atau orang dilantik di bawah perenggan 99(1)(c) mengambil alih kawalan suatu institusi anggota, atau seorang penerima atau pelikuidasi dilantik menurut Akta ini, Perbadanan, orang dilantik, penerima atau pelikuidasi tidaklah—
(a) dianggap sebagai majikan yang menggantikan institusi anggota itu;
(b) bertanggungan bagi apa-apa obligasi berkenaan dengan pekerja atau bekas pekerja institusi anggota atau manamana pendahulu institusi anggota yang wujud sebelum pengambilalihan kawalan atau pelantikan yang berkenaan dengan apa-apa pelan pencen atau pelan manfaat selepas pekerjaan yang lain bagi pekerja atau bekas pekerja institusi anggota atau penakat mereka; atau
(c) bertanggungan bagi apa-apa jumlah wang yang dikira dengan merujuk kepada suatu tempoh masa sebelum institusi perantaraan menjadi majikan orang yang berkenaan.
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).
