Section 28
Section 78 of the principal Act is amended—
of Malaysia Deposit Insurance Corporation (Amendment) Act 2022
Amendment ActIn forceProvision 28 of 56
Section 28
(a)
by renumbering the existing provision as subsection (1);
(b)
in subsection (1) as renumbered, by substituting for the word “Any” the words “Subject to subsection (2), any”; and
(c)
by inserting after subsection (1) as renumbered the following subsection:
“(2) The Minister may, on the recommendation of the Corporation, by order published in the Gazette—
(a)
provide for the partial or total reduction, waiver, refund or rebate of the amount of any levy or levy surcharge to such insurer member; and
(b)
specify any condition in respect of paragraph (a).”.