Section 179 — MALAYSIA DEPOSIT INSURANCE CORPORATION ACT 2011

(a)

no action, suit or proceeding in any court or tribunal may be commenced or continued against the Corporation, the conservator or the affected person;

(b)

any petition for the winding up of the affected person shall be dismissed by the High Court;

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(c)

no resolution may be passed or order made for the winding up of the affected person, except where a conservator takes any step to implement a proposal under this Part;

(d)

no receiver, manager, receiver and manager or interim liquidator may be appointed, or if appointed, his appointment shall immediately cease and he shall vacate his office;

(e)

no steps may be taken—

(i)

to create, perfect or enforce any security over any asset of the affected person;

(ii)

to enforce any judgement or award or order over the affected person or any asset of the affected person;

(iii)

to repossess any asset in the possession, custody or control of the affected person; or

(iv)

to set off any debt owing to the affected person in respect of any claim against the affected person, except with the prior written consent of the Corporation;

(f)

no action, suit, proceeding, execution or legal process may be commenced or continued with, and no distress may be levied, against the affected person or its asset except with the prior written consent of the Corporation;

(g)

any application made under the Companies Act 2016 in respect of any compromise or arrangement involving the affected person and its creditors or shareholders or any class thereof shall be adjourned sine die and any restraining order issued pursuant to any provision of the Companies Act 2016

shall be immediately discharged and set aside; and

(h)

no action, suit, proceeding, execution or legal process may be commenced or continued with against any person providing a guarantee or acting as a guarantor for the

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liability of the affected person except with the prior written consent of the Corporation.

(2)

The duration of the moratorium provided for in subsection (1)

shall be for a period of twelve months commencing from the date of the appointment of the conservator and may be terminated at any time by the Corporation.

(3)

Notwithstanding subsection (2), the Corporation may extend the moratorium for such period as the Corporation deems appropriate to enable the conservator to prepare or implement a proposal under this

Part.

(4)

If the period of the moratorium is extended pursuant to subsection (3), a notice of the extension shall be published in at least two daily newspapers in Malaysia, one of which shall be in the national language.

(5)

The Corporation shall not be liable to an action or damages in respect of a refusal to give its consent under subsection (1).

(6)

Nothing in this section shall prevent any civil or criminal proceedings from being instituted or continued by any regulatory body under any law against the affected person.

(7)

Any decision of the Corporation under this section shall be final and binding.

Qualified financial agreement with affected person