Section 83
Withdrawal from insurance funds
of Financial Services Act 2013
ActIn forceProvision 83 of 124
Section 83
A licensed insurer shall not make any withdrawal from an insurance fund, whether from the surplus or otherwise of that insurance fund, unless—
(a)
it has complied with such requirements on withdrawals as may be specified by the Bank;
102 Laws of Malaysia
(b)
the withdrawal does not impair the sustainability of the insurance fund to meet its liabilities; and
(c)
in respect of an insurance fund for participating life policies, the interests and fair treatment of policy owners, including their reasonable expectations, have been given due regard.