Malaysia legislation

Section 64

of *MALAYSIA DEPOSIT INSURANCE CORPORATION ACT 2011

Section 64

(2)

The Corporation may make a payment under section 56, 57, 58

or 61 in such manner as the Corporation deems to be appropriate.

(3)

Without prejudice to subsection (2), the Corporation may make payment by arranging for the person it considers to be entitled to the payment to receive a deposit at a deposit-taking member in the amount of the payment that is repayable on demand, provided that such deposit shall be an Islamic deposit or a conventional deposit according to whether the insured deposit in respect of which the payment is made is an Islamic deposit or a conventional deposit.

Subrogation

Section 64 — MALAYSIA DEPOSIT INSURANCE CORPORATION ACT 2011