Malaysia legislation
Section 118
Section 118
(a)
the designation shall expire two years after it is made, unless the designation is—
(i)
extended under paragraph (b); or
(ii)
terminated under paragraph (c);
(b)
the Minister may, on the recommendation of the
Corporation, extend the designation for one or more periods each of which may not exceed one year; and
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(c)
the designation shall terminate on the earlier of the date of occurrence of any of the following events:
(i)
the bridge institution is no longer a subsidiary of the
Corporation;
(ii)
all or a substantial amount of the assets of the bridge institution are acquired, or all or a substantial amount of the liabilities of the bridge institution are assumed, or both, by a person that is not a bridge institution; or
(iii)
the Corporation decides that the designation shall be terminated.
(2)
Notwithstanding any other law, if a subsidiary of the
Corporation that is designated as a bridge institution changes its company name within twelve months before or after such designation, the subsidiary or the bridge institution shall be exempt from stating or otherwise showing the former name on any seal, document or instrument whatsoever.
Publication of notice