Malaysia legislation
Section 3
of MALAYSIA DEPOSIT INSURANCE CORPORATION (AMENDMENT) ACT 2022
Section 3
Subsection 2(1) of the principal Act is amended—
(a)
by inserting before the definition of “Islamic bank”
the following definition:
‘ “investment account” has the same meaning as defined under subsection 2(1) of the Islamic Financial
Services Act 2013;’;
(b)
in the definition of “related”, by substituting for the words
“section 6” the words “section 7”;
(c)
by substituting for the definition of “Islamic deposit”
the following definition:
‘ “Islamic deposit” has the same meaning as defined under subsection 2(1) of the Islamic Financial Services
Act 2013;’;
(d)
by substituting for the definition of “conventional deposit”
the following definition:
‘ “conventional deposit” has the same meaning assigned to the definition of “deposit” under subsection 2(1) of the Financial Services Act 2013
and does not include an Islamic deposit;’;
(e)
in the national language text, in the definition of
“manfaat insurans”, by inserting after the word “kejadian”
the words “atau lebih”;
(f)
by substituting for the definition of “Registrar of Companies”
the following definition:
‘ “Registrar of Companies” means the Registrar designated under subsection 20 a(1) of the
Companies Commision of Malaysia Act 2001 [Act 614];’;
Malaysia Deposit Insurance Corporation (Amendment)
(g)
in the definition of “corporation”, by substituting for the words “section 4” the words “section 3”; and
(h)
in the definition of “insurance company”, by substituting for the words “and Danajamin Nasional Berhad”
the words “, Danajamin Nasional Berhad and any person carrying on solely financial guarantee insurance business or credit guarantee insurance business”.
Amendment of section 11