Malaysia legislation
Section 13
Seksyen 13
Seksyen 60 Akta ibu adalah dipinda dengan menggantikan subseksyen (7) selain daripada proviso dengan yang berikut:
(a)
re-insured the risk or part of the risk with a re-insurer who either does not carry on the business of insuring risks of that kind in Malaysia or does not re-insure the risk through a branch in Malaysia; or
(b)
re-insured the risk or part of the risk with an insurer licensed under the Offshore Insurance Act 1990, there may be deducted under subsection (5) (b) (ii) or (6) (b) (ii) in respect of such risks which are re-insured only ninety-five per cent of the amount which would otherwise be deductible:".