Malaysia Deposit Insurance Corporation Act 2011 Fourth Schedule
Fourth Schedule FOURTH SCHEDULESupplementary
[Section 159]
ENTITLEMENT TO PRESERVE, DISPOSE OF OR ACQUIRE PROPERTY
Interpretation
1. In this Schedule—
“purchaser” means any person to whom the Corporation disposes of any property under section 158;
“relevant land laws” means—
(a) in the case of Peninsular Malaysia, the respective State land rules;
(b) in the case of Sabah, the Land Ordinance of Sabah; or
(c) in the case of Sarawak, the Land Code of Sarawak.
Deemed authority to acquire
2. For the purposes of section 159—
(a) the Corporation shall be deemed to be authorized by the grantor of the security or the registered owner of the property to dispose of the property and to effect the transfer of title to or ownership of the property to the purchaser; and
(b) every registrar of courts, the Registrar of Companies, the Registrar of land, the registrar of Malaysian ships, a central depository, an authorized depository agent and any person maintaining a register or record of ownership or interest shall accept a vesting or transfer certificate or an instrument of transfer or any other registration document or instrument executed by the Corporation and subject to the payment of the fees prescribed under relevant land laws, register or otherwise effect the transfer of the property or any part of the property to the purchaser without the need for any further application or filing of any further documents.
Sale of property by private treaty
3. A sale by way of a private treaty under section 159 may be effected by a private contract, auction, tender or any other mode of sale.
Corporation may acquire property
4. Where the Corporation or a subsidiary of the Corporation disposes of any property or any part of such property by way of private treaty then, notwithstanding anything to the contrary in any law, the Corporation or the subsidiary may without having to pay any deposit, acquire such property or part of such property and set off the purchase price against any liability owed to the Corporation or the subsidiary.
Entitlements of acquisition of Corporation to prevail
5. The entitlements of the Corporation under section 159 may be exercised—
(a) notwithstanding any order for sale made whether under any rules of the court, the *National Land Code, the Land Ordinance of Sabah, the Land Code of Sarawak or any other law or any step or proceeding taken or pending to sell the property;
(b) without the need for any approval, confirmation or order of court; and
(c) concurrently with any right or remedy provided by any other law or any contract.
*NOTE—The National Land Code [Act 56/1965] has since been revised as the National Land Code [Act 828] w.e.f 15 October 2020
LAWS OF MALAYSIA
MALAYSIA DEPOSIT INSURANCE CORPORATION ACT 2011
Malay text (authoritative)
JADUAL KEEMPAT
[Seksyen 159]
HAK UNTUK MEMELIHARA, MELUPUSKAN ATAU MEMPEROLEH HARTA
Tafsiran
1. Dalam Jadual ini—
“pembeli” ertinya mana-mana orang yang kepadanya Perbadanan melupuskan apa-apa harta di bawah seksyen 159;
“undang-undang tanah yang berkaitan” ertinya—
(a) dalam hal Semenanjung Malaysia, kaedah-kaedah tanah masing-masing Negeri;
(b) dalam hal Sabah, Ordinan Tanah Sabah; atau
(c) dalam hal Sarawak, Kanun Tanah Sarawak.
Kuasa disifatkan untuk memperoleh
2. Bagi maksud seksyen 159—
(a) Perbadanan disifatkan sebagai diberi kuasa oleh pemberi cagaran atau pemunya berdaftar harta untuk melupuskan harta dan memberi kesan kepada pindahan hakmilik atau pemunya harta kepada pembeli; dan
(b) tiap-tiap pendaftar mahkamah, Pendaftar Syarikat, Pendaftar tanah, pendaftar kapal Malaysia, depositori pusat, ejen depositori yang dibenarkan dan mana-mana orang yang menyenggara suatu daftar atau rekod pemilikan atau kepentingan hendaklah menerima suatu perakuan peletakhakan atau perakuan pindah milik atau suatu surat cara pindah milik atau apa-apa dokumen atau surat cara pendaftaran lain yang dilaksanakan oleh Perbadanan dan tertakluk pada bayaran fi yang ditetapkan di bawah undang-undang tanah yang berkaitan, mendaftarkan atau selainnya memberi kesan kepada pindah milik harta itu atau mana-mana bahagian harta itu kepada pembeli tanpa memerlukan apa-apa permohonan lanjut atau pemfailan apa-apa dokumen selanjutnya.
Jualan harta melalui triti persendirian
3. Suatu jualan melalui suatu triti persendirian di bawah seksyen 159 boleh dibuat melalui suatu kontrak persendirian, lelongan, tender atau apa-apa cara jualan yang lain.
Perbadanan boleh memperoleh harta
4. Jika Perbadanan atau suatu subsidiari Perbadanan melupuskan mana-mana harta atau mana-mana bahagian harta itu melalui triti persendirian maka, walau apa pun apa-apa jua yang bertentangan dalam mana-mana undang-undang, Perbadanan atau subsidiari itu boleh tanpa perlu membayar apa-apa deposit, memperoleh harta itu atau sebahagian daripada harta itu dan menolak harga belian terhadap apa-apa liabiliti yang terhutang kepada Perbadanan atau subsidiari itu.
Hak pemerolehan Perbadanan hendaklah mengatasi
5. Hak Perbadanan di bawah seksyen 159 boleh dijalankan—
(a) walau apa pun apa-apa perintah jualan yang dibuat sama ada di bawah mana-mana kaedah mahkamah, *Kanun Tanah Negara, Ordinan Tanah Sabah, Kanun Tanah Sarawak atau mana-mana undang-undang lain atau apa-apa langkah atau prosiding yang diambil atau yang belum selesai untuk menjual harta;
(b) tanpa memerlukan apa-apa kelulusan, pengesahan atau perintah mahkamah; dan
(c) bersesama dengan apa-apa hak atau remedi yang diperuntukkan oleh mana-mana undang-undang lain atau mana-mana kontrak.
*CATATAN—Kanun Tanah Negara [Akta 56/1965] telah disemak dan dinamakan sebagai Kanun Tanah Negara [Akta 828] m.b.p 15 Oktober 2020
UNDANG-UNDANG MALAYSIA
PERBADANAN INSURANS DEPOSIT MALAYSIA 2011
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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).
