Malaysia Deposit Insurance Corporation Act 2011 s 36
s 36 Deemed membership
(1) A licensed bank or an Islamic bank—
(a) which is deemed to be a member institution under section 37 of the repealed Act, shall continue to remain as a member institution under this Act; or
(b) licensed under the Banking and Financial Institutions Act 1989 [Act 372], the Islamic Banking Act 1983 [Act 276], the Financial Services Act 2013 or the Islamic Financial Services Act 2013 after the commencement of this Act, shall be deemed to be a member institution from the date it is granted the licence.
(2) A takaful operator or insurance company is deemed to be a member institution—
(a) from the commencement of this Act; or
(b) if it comes into existence after the commencement of this Act, from the date it is registered under the Takaful Act 1984 [Act 312], or licensed under the Insurance Act 1996 [Act 553], the Islamic Financial Services Act 2013 or the Financial Services Act 2013.
(3) Any person that is prescribed to be a member institution by an order referred to in subsection 27(1) is deemed to be a member institution from the effective date of the order.
(4) Notwithstanding subsection 120(1), this section does not apply to a bridge institution.
Malay text (authoritative)
Disifatkan sebagai anggota
(1) Suatu bank berlesen atau bank Islam —
(a) yang disifatkan sebagai suatu institusi anggota di bawah seksyen 37 Akta yang dimansuhkan, hendaklah berterusan kekal sebagai suatu institusi anggota di bawah Akta ini; atau
(b) yang dilesenkan di bawah Akta Bank dan Institusi-Institusi Kewangan 1989 [Akta 372], Akta Bank Islam 1983 [Akta 276], Akta Perkhidmatan Kewangan 2013 atau Akta Perkhidmatan Kewangan Islam 2013 selepas mula berkuatkuasanya Akta ini, hendaklah disifatkan sebagai suatu institusi anggota dari tarikh ia diberikan lesen.
(2) Suatu pengendali takaful atau syarikat insurans disifatkan sebagai suatu institusi anggota—
(a) dari tarikh berkuatkuasanya Akta ini; atau
(b) jika ia mula wujud selepas tarikh berkuatkuasanya Akta ini, dari tarikh ia didaftarkan di bawah Akta Takaful 1984 [Akta 312], atau dilesenkan di bawah Akta Insurans 1996 [Akta 553], Akta Perkhidmatan Kewangan Islam 2013 atau Akta Perkhidmatan Kewangan 2013.
(3) Mana-mana orang yang ditetapkan sebagai institusi anggota oleh suatu perintah yang disebut dalam subseksyen 27(1) disifatkan sebagai suatu institusi anggota dari tarikh kuat kuasa perintah itu.
(4) Walau apa pun subseksyen 120(1), seksyen ini tidak terpakai bagi suatu institusi perantaraan.
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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).
