Financial Services Act 2013 s 81
s 81 Establishment and maintenance of insurance funds
(1) A licensed insurer shall establish and maintain one or more insurance funds for any class or description of its insurance business as may be specified by the Bank.
(2) Notwithstanding subsection (1), a licensed life insurer shall establish and maintain a separate insurance fund for its life insurance business relating to participating life policies.
(3) The Bank may specify that a licensed life insurer shall establish and maintain more than one insurance fund for its participating life policies under subsection (2).
Malay text (authoritative)
Penubuhan dan penyenggaraan kumpulan wang insurans
(1) Penanggung insurans berlesen hendaklah menubuhkan dan menyenggarakan satu atau lebih kumpulan wang insurans bagi mana-mana kelas atau perihalan perniagaan insuransnya sebagaimana yang ditentukan oleh Bank.
(2) Walau apa pun subseksyen (1), penanggung insurans hayat berlesen hendaklah menubuhkan dan menyenggarakan kumpulan wang insurans berasingan bagi perniagaan insurans hayatnya yang berhubungan dengan polisi hayat sertaan.
(3) Bank boleh menentukan bahawa penanggung insurans hayat berlesen hendaklah menubuhkan dan menyenggarakan lebih daripada satu kumpulan wang insurans bagi polisi hayat sertaannya di bawah subseksyen (2).
Read this section in the full act → · Open Division 6 →
Find Act 758 on lom.agc.gov.my ↗
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).
