Section 160

a charge duly registered under the *National Land Code, the

Land Ordinance of Sabah or the Land Code of Sarawak over land belonging to the affected person;

a fixed or floating charge on the undertaking or asset of the affected person and which, if required by any provision of the Companies Act 2016, is duly registered in accordance with the applicable provisions of that Act;

an assignment by an affected person of its rights under an agreement to purchase land or a parcel of a building where the issue document of title to the land or the strata title to the parcel of a building has not been issued at the time of the assignment;

*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

Malaysia Deposit Insurance Corporation 167

the issue document of title to any land or duplicate lease belonging to the affected person and in respect of which a lienholder’s caveat has been duly entered in accordance with the provisions of the National Land Code;

a charge, mortgage, pledge or lien over securities belonging to the affected person and which, if duly required by any provision of the Companies Act 2016, is duly registered in accordance with the applicable provisions of that Act; or

a charge, mortgage, pledge or lien over monies placed on fixed deposit by the affected person and which, if required by any provision of the Companies Act 2016, is duly registered in accordance with the applicable provisions of that Act.

The Minister may, on the recommendation of the Corporation, amend the definition of “secured creditor” in subsection (1) by notice published in the Gazette.

Power to appoint conservator and additional conservators, etc.