Malaysia legislation
Section 18
of MALAYSIA DEPOSIT INSURANCE CORPORATION (AMENDMENT) ACT 2022
Section 18
Section 54 of the principal Act is amended—
(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 premium or premium surcharge to such deposit-taking member; and
(b)
specify any condition in respect of paragraph (a).”.
Amendment of section 63