Malaysia Deposit Insurance Corporation Act 2011 s 54
s 54 Premiums and surcharges on deposit-taking members deemed earned
(1) Subject to subsection (2), any premium or premium surcharge payable under this Part shall be deemed to be fully earned when payable and shall not be refundable.
(2) The Minister may, on the recommendation of the Corporation, by order published in the Gazetteβ
(a) provide for the partial or total reduction, waiver, refund or rebate of the amount of any premium or premium surcharge to such deposit-taking member; and
(b) specify any condition in respect of paragraph (a).
Malay text (authoritative)
Premium dan surcaj ke atas anggota penerima deposit disifatkan diperoleh
(1) Tertakluk pada subseksyen (2), apa-apa premium atau surcaj premium yang kena dibayar di bawah Bahagian ini hendaklah disifatkan sebagai diperoleh sepenuhnya apabila kena dibayar dan tidaklah boleh dibayar balik.
(2) Menteri boleh, atas syor Perbadanan, melalui perintah yang disiarkan dalam Warta β
(a) memperuntukkan pengurangan sebahagian atau keseluruhan, penepian, pembayaran balik atau rebat amaun apa-apa premium atau surcaj premium kepada mana-mana anggota penerima deposit; dan
(b) menentukan apa-apa syarat berkenaan dengan perenggan (a).
Read this section in the full act β Β· Open Chapter 2 β
Find Act 720 on lom.agc.gov.my β
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).
