Section 14
New section 47a
of Malaysia Deposit Insurance Corporation (Amendment) Act 2022
The principal Act is amended by inserting after section 47
the following section:
“Calculation of first premium in respect of new deposit-taking members 47a. (1) The first premiums shall be calculated as follows:
(a)
the first premium to be paid by a new deposit-taking member shall be calculated on the basis as may be prescribed by the Minister;
(b)
the first premiums of Islamic and conventional deposits shall be calculated separately; and
(c)
the applicable premium rates for each new deposit-taking member shall be based on such criteria as may be prescribed in the regulations.
(2)
The first premium payable by a new deposit-taking member shall be based on returns to be certified by the chief executive of the new deposit-taking member and submitted in such form and within such period as the Corporation may require.”.
Amendment of section 48