Malaysia legislation
Section 57
Section 57
The Corporation may, with the prior written approval of the
Minister, make payment in respect of any deposit insured by the
(a)
a deposit-taking member that holds the deposit, a former deposit-taking member as referred to in paragraph 40(1)(b)
or a person to whom the deposit liability has been transferred under subsection 44(1), is unable to make any payment in respect of the deposit, by reason of—
(i)
an order of a court;
(ii)
any action taken by a regulatory body or the
Corporation; or
(iii)
any action taken by a receiver, manager or receiver and manager during the period in which the deposit-taking member or the person to whom the deposit liability has been transferred is in receivership;
(b)
a petition for winding up has been presented to the court against the deposit-taking member that holds the deposit or a person to whom the deposit liability has been transferred under subsection 44(1); or
(c)
the membership of the deposit-taking member that holds the deposit is cancelled or terminated.
Advance payment