Malaysia legislation

Section 86

of *MALAYSIA DEPOSIT INSURANCE CORPORATION ACT 2011

Section 86

(a)

the date fixed for the hearing of the petition;

(b)

the time period for filing with the Corporation claims in respect of protected family takaful or life policy benefits based on risk events that have occurred or occur before the date of the winding up order;

(c)

the time period for filing with the Corporation claims in respect of protected general takaful or general policy benefits based on risk events that have occurred or occur before the date of cessation of the certificates or policies;

and

Malaysia Deposit Insurance Corporation 105

(d)

any other relevant information as the Corporation may determine.

(2)

The notification referred to in subsection (1) shall be effected by ordinary mail sent to the addresses of the certificate owners or policy owners last shown in the records of the insurer member and by advertisement in at least two daily newspapers published in Malaysia, one of which shall be in the national language.

Calculation of return or interest on protected benefit for obligatory payment