Malaysia Deposit Insurance Corporation Act 2011 s 87
s 87 Calculation of return or interest on protected benefit for obligatory payment
For the purpose of calculating the obligatory payment of the Corporation in respect of any protected benefit where a winding up order has been made in respect of an insurer member, the protected benefit, including return or interest accrued in relation to the obligation under the takaful certificate or insurance policy shall, notwithstanding any other provision in the law, be included only to the date of the filing of the petition for the winding up.
Malay text (authoritative)
Pengiraan pulangan atau bunga atas manfaat dilindungi bagi bayaran wajib
Bagi maksud mengira bayaran wajib oleh Perbadanan berkenaan dengan apa-apa manfaat dilindungi jika suatu perintah penggulungan telah dibuat berkenaan dengan anggota penanggung insurans, manfaat dilindungi itu, termasuk pulangan atau bunga yang terakru berhubung dengan kewajipan di bawah sijil takaful atau polisi insurans hendaklah, walau apa pun mana-mana peruntukan lain dalam undang-undang, dimasukkan hanya sehingga tarikh pemfailan petisyen penggulungan.
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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).
