Malaysia Deposit Insurance Corporation Act 2011 s 46
s 46 Not part of deposit
Where monies are or were received by a deposit-taking member for which the deposit-taking member has issued or is obligated to issue an instrument evidencing a deposit, other than a bank draft, traveller’s cheque, prepaid letter of credit or money order—
(a) the monies do not constitute a deposit unless the instrument and records of the deposit-taking member specify the person entitled, at the date of issue of the instrument, to the repayment of the monies evidenced thereby;
(b) the person referred to in paragraph (a) shall be deemed to be the depositor in respect of the monies unless particulars of a transfer of the instrument are entered on the records of the deposit-taking member, in which case the most recent transferee shown on the records shall be deemed to be the depositor; and
(c) the entry of a transfer on the records of a deposit-taking member is ineffective for the purpose of paragraph (b), if the entry is made subsequent to the cancellation or termination of the membership of the deposit-taking member.
Malay text (authoritative)
Bukan sebahagian deposit
Jika wang yang atau telah diterima oleh anggota penerima deposit yang baginya anggota penerima deposit itu telah mengeluarkan atau berkewajipan untuk mengeluarkan suatu surat cara yang membuktikan suatu deposit, selain suatu draf bank, cek kembara, surat kredit bayar dahulu atau kiriman wang—
(a) wang itu tidak menjadi suatu deposit melainkan jika surat cara dan rekod anggota penerima deposit itu menyatakan orang yang berhak, pada tarikh pengeluaran surat cara itu, kepada pembayaran balik wang yang dibuktikan itu;
(b) orang yang disebut dalam perenggan (a) hendaklah disifatkan sebagai pendeposit berkenaan dengan wang itu melainkan jika butiran suatu pindah milik surat cara itu dicatatkan dalam rekod anggota penerima deposit itu, dalam hal sedemikian penerima pindah milik terkini yang ditunjukkan dalam rekod itu hendaklah disifatkan sebagai pendeposit; dan
(c) catatan suatu pindah milik dalam rekod anggota penerima deposit tidaklah berkesan bagi maksud perenggan (b), jika catatan itu dibuat selepas pembatalan atau penamatan keanggotaan anggota penerima deposit itu.
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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).
