Section 116
Corporation, etc., not a successor employer
of Malaysia Deposit Insurance Corporation Act 2011
Where the Corporation or the appointed person under paragraph 99(1)(c) assumes control of a member institution, or a receiver or liquidator is appointed pursuant to this Act, the
Corporation, the appointed person, the receiver or liquidator shall not—
(a)
be regarded as a successor employer to the member institution;
(b)
be liable for any obligation in respect of the employees or former employees of the member institution or any predecessor of the member institution that exists prior to the assumption of control or appointment in respect of any
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pension plan or other post-employment benefit plan for the employees or former employees of the member institution or their survivors; or
(c)
be liable for any sum calculated by reference to a period of time prior to the bridge institution becoming the employer of the person in question.
Certain claims, proceedings prohibited