Malaysia Deposit Insurance Corporation Act 2011 s 192
s 192 Holding out as member institution
(1) No person shall hold itself out to be a member institution, or represent that any of its liabilities or those of any other person are insured under the deposit insurance system or protected under the takaful and insurance benefits protection system, unless it or such other person is a member institution.
(2) Any person who contravenes subsection (1) commits an offence and shall, on conviction, be liable to a fine not exceeding five million ringgit or to imprisonment for a term not exceeding five years or to both and shall, in addition, be liable to a daily fine not exceeding fifty thousand ringgit for every day the offence continues after conviction.
Malay text (authoritative)
Mengemukakan diri sebagai institusi anggota
(1) Tiada seorang pun boleh mengemukakan dirinya sebagai institusi anggota, atau menggambarkan bahawa mana-mana liabilitinya atau liabiliti mana-mana orang lain adalah diinsuranskan di bawah sistem insurans deposit atau dilindungi di bawah sistem perlindungan manfaat takaful dan insurans, melainkan jika ia atau orang lain itu ialah suatu institusi anggota.
(2) Mana-mana orang yang melanggar subseksyen (1) melakukan suatu kesalahan, dan boleh, apabila disabitkan, didenda tidak melebihi lima juta ringgit atau dipenjarakan selama tempoh tidak melebihi lima tahun atau kedua-duanya dan boleh, sebagai tambahan, dikenakan denda harian tidak melebihi lima puluh ribu ringgit bagi tiap-tiap hari kesalahan itu berterusan selepas sabitan.
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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).
