Malaysia Deposit Insurance Corporation Act 2011 s 57
s 57 Discretionary payment
The Corporation may, with the prior written approval of the Minister, make payment in respect of any deposit insured by the Corporation where—
(a) a deposit-taking member that holds the deposit, a former deposit-taking member as referred to in paragraph 40(1)(b) or a person to whom the deposit liability has been transferred under subsection 44(1), is unable to make any payment in respect of the deposit, by reason of—
(i) an order of a court;
(ii) any action taken by a regulatory body or the Corporation; or
(iii) any action taken by a receiver, manager or receiver and manager during the period in which the deposittaking member or the person to whom the deposit liability has been transferred is in receivership;
(b) a petition for winding up has been presented to the court against the deposit-taking member that holds the deposit or a person to whom the deposit liability has been transferred under subsection 44(1); or
(c) the membership of the deposit-taking member that holds the deposit is cancelled or terminated.
Malay text (authoritative)
Bayaran budi bicara
Perbadanan boleh, dengan kebenaran bertulis Menteri terlebih dahulu, membuat bayaran berkenaan dengan mana-mana deposit yang diinsuranskan oleh Perbadanan jika—
(a) suatu anggota penerima deposit yang memegang deposit itu, bekas anggota penerima deposit yang memegang deposit sebagaimana yang disebut dalam perenggan 40(1)(b) atau seseorang yang kepadanya liabiliti deposit telah dipindahkan di bawah subseksyen 44(1), tidak dapat membuat apa-apa bayaran berkenaan dengan deposit itu, disebabkan oleh—
(i) suatu perintah mahkamah;
(ii) apa-apa tindakan yang diambil oleh suatu badan kawal selia atau Perbadanan; atau
(iii) apa-apa tindakan yang diambil oleh penerima, pengurus atau penerima dan pengurus semasa tempoh anggota penerima deposit itu atau orang yang kepadanya liabiliti deposit telah dipindahkan berada dalam penerimaan;
(b) suatu petisyen penggulungan telah dikemukakan kepada mahkamah terhadap anggota penerima deposit yang memegang deposit itu atau seseorang yang kepadanya liabiliti deposit telah dipindahkan di bawah subseksyen 44(1); atau
(c) keanggotaan anggota penerima deposit yang memegang deposit itu dibatalkan atau ditamatkan.
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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).
