Malaysia Deposit Insurance Corporation Act 2011 s 80
Malaysia Deposit Insurance Corporation Act 2011 s 80
s 80 Obligatory payment in respect of protected benefit
(1) The Corporation shall make payment in respect of a protected benefit where a winding up order has been made in respect of—
(a) the insurer member that issued the takaful certificate or insurance policy; or
(b) an insurer member to which the takaful certificate or insurance policy liability has been transferred under subsection 70(1).
(2) Where the Corporation is obliged to make payment under subsection (1), the Corporation shall, based on the takaful certificate or insurance policy and any supporting documentation included in the records of the insurer member, make payment to such person as in the opinion of the Corporation appears to be entitled to it.
(3) Any decision made by the Corporation relating to the person entitled to a payment or the amount to be paid in respect of a protected benefit shall be final and binding.
(4) (Deleted by Act A1505).
(5) For the avoidance of doubt, in respect of a family takaful certificate or life policy—
(a) the value of that family takaful certificate or value of that life policy referred to in paragraph 83(2)(b), 83(3)(b) or subsection 84(3) is a protected benefit; and
(b) notwithstanding subsections 83(2), 83(3) and 84(3), the Corporation is obliged to make payment in respect of each participating life or life insured as follows:
(i) where there is one certificate or policy, the value of that family takaful certificate or value of that life policy only up to such amount as prescribed by the Minister on the recommendation of the Corporation; and
(ii) where there are two or more certificates or policies, the aggregate of the value of those family takaful certificates or value of those life policies only up to such amount as prescribed by the Minister on the recommendation of the Corporation.
Malay text (authoritative)
Bayaran wajib berkenaan dengan manfaat dilindungi
(1) Perbadanan hendaklah membuat bayaran berkenaan dengan suatu manfaat dilindungi jika suatu perintah penggulungan telah dibuat berkenaan dengan—
(a) anggota penanggung insurans yang telah mengeluarkan sijil takaful atau polisi insurans itu; atau
(b) suatu anggota penanggung insurans yang kepadanya liabiliti sijil takaful atau polisi insurans itu telah dipindahkan di bawah subseksyen 70(1).
(2) Jika Perbadanan berkewajipan untuk membuat bayaran di bawah subseksyen (1), Perbadanan hendaklah, berdasarkan sijil takaful atau polisi insurans itu dan apa-apa dokumentasi sokongan yang termasuk dalam rekod anggota penanggung insurans itu, membuat bayaran kepada mana-mana orang sebagaimana Perbadanan berpendapat ternyata berhak ke atasnya.
(3) Apa-apa keputusan yang dibuat oleh Perbadanan yang berhubungan dengan orang yang berhak kepada suatu bayaran atau amaun yang hendaklah dibayar berkenaan dengan suatu manfaat dilindungi adalah muktamad dan mengikat.
(4) (Dipotong oleh Akta A1505).
(5) Bagi mengelakkan keraguan, berkenaan dengan suatu sijil takaful keluarga atau polisi hayat—
(a) nilai sijil takaful keluarga itu atau nilai polisi hayat itu yang disebut dalam perenggan 83(2)(b), 83(3)(b) atau subseksyen 84(3) ialah suatu manfaat dilindungi; dan
(b) walau apa pun subseksyen 83(2), 83(3) dan 84(3), Perbadanan berkewajipan untuk membuat bayaran berkenaan dengan setiap hayat sertaan atau orang diinsuranskan hayat seperti yang berikut:
(i) jika terdapat satu sijil atau polisi, nilai sijil takaful keluarga itu atau nilai polisi hayat itu hanya setakat apa-apa amaun yang ditetapkan oleh Menteri atas syor Perbadanan; dan
(ii) jika terdapat dua atau lebih sijil atau polisi, agregat nilai sijil takaful keluarga itu atau nilai polisi hayat itu hanya setakat apa-apa amaun yang ditetapkan oleh Menteri atas syor Perbadanan.
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).
