Malaysia Deposit Insurance Corporation Act 2011 s 134
Malaysia Deposit Insurance Corporation Act 2011 s 134
s 134 Priority of payments in the winding up of a deposit-taking member
In the winding up of a deposit-taking member, the assets of the deposit-taking member shall be available to meet all liabilities of that deposit-taking member in respect of all deposits in Malaysia in priority to all other unsecured liabilities of that deposit-taking member in Malaysia other than the preferential debts set out in subsection 527(1) of the Companies Act 2016 in the order set out in that subsection and debts due and claims owing to the Government under section 10 of the Government Proceedings Act 1956 [Act 359].
Malay text (authoritative)
Keutamaan pembayaran dalam penggulungan anggota penerima deposit
Dalam penggulungan anggota penerima deposit, aset anggota penerima deposit itu hendaklah tersedia untuk menunaikan semua liabiliti anggota penerima deposit itu berkenaan dengan semua deposit di Malaysia dalam keutamaan berbanding semua liabiliti tidak bercagar yang lain anggota penerima deposit itu di Malaysia selain hutang keutamaan yang dinyatakan dalam subseksyen 527(1) Akta Syarikat 2016 dalam turutan yang dinyatakan dalam subseksyen itu dan hutang yang kena dibayar dan tuntutan terhutang kepada Kerajaan di bawah seksyen 10 Akta Prosiding Kerajaan 1956 [Akta 359].
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).
