Malaysia legislation

Section 5

of CENTRAL BANK OF MALAYSIA (AMENDMENT) ACT 2013

Section 5

“Measures for financial stability

Section 32 of the principal Act is amended by inserting after subsection (1) the following subsection:

“(1a)  The enforcement by the parties of their rights under a qualified financial agreement shall not be affected by the making of an order for the vesting of, the whole or part of the business, assets or liabilities of, or all or any of the shares or other capital instruments issued by, a financial institution pursuant to subparagraph (1)(c)(iii).”.

Section 5 — AKTA BANK NEGARA MALAYSIA (PINDAAN) 2013