Malaysia Deposit Insurance Corporation Act 2011 s 37
s 37 Terms and conditions of membership
(1) The terms and conditions of membership of a member institution shall be prescribed by regulations made under section 209.
(2) A member institution shall comply with the terms and conditions as may be prescribed pursuant to subsection (1).
(3) Any person who contravenes subsection (2) 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)
Terma dan syarat keanggotaan
(1) Terma dan syarat keanggotaan suatu institusi anggota hendaklah ditetapkan melalui peraturan-peraturan yang dibuat di bawah seksyen 209.
(2) Suatu institusi anggota hendaklah mematuhi terma dan syarat sebagaimana yang ditetapkan menurut subseksyen (1).
(3) Mana-mana orang yang melanggar subseksyen (2) 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).
