Section 12
Board may make by-laws
of Malaysia Deposit Insurance Corporation Act 2011
The Board may make such by-laws as are necessary or expedient in relation to the administration, management, control, business, assets and affairs of the Corporation including—
(a)
the functions, powers, duties, remuneration, benefits and terms and conditions of service, code of conduct or surcharge on officers, employees and agents of the
Corporation;
(b)
the conflicts of interest in respect of serving directors, officers and employees of the Corporation and those directors, officers and employees who have left the service of the Corporation;
(c)
the appointment, terms of reference and activities of committees established by the Corporation;
(ca) the quorum of a meeting of the Board;
(d)
the rules and procedures to be observed by the directors at
Board meetings; and
(e)
such other matters as may be required to be provided for under by-laws in this Act.
Malaysia Deposit Insurance Corporation 37
(2)
By-laws made under this section shall be binding on all persons to whom the by-laws apply.
(3)
Any person who does not comply with the by-laws made under paragraph (1)(b) commits an offence.