Malaysia legislation
Section 96
Section 96
On the exchange company making any payment out of the Compensation Fund in respect of any claim for compensation under this Part—
(a)
the exchange company shall be subrogated to the extent of that payment to all the rights and remedies of the claimant in respect of the pecuniary loss sustained by reason of the default on which the claim was based; and
(b)
the claimant shall have no right under any bankruptcy or legal proceedings or otherwise to receive in respect of the pecuniary loss any sum out of the assets of the member concerned, or where the pecuniary loss was caused by the default of a director, partner or employee, until the exchange company has been reimbursed the full amount of the payment made by it out of the Compensation Fund.