Section 124
Assumption of portion of uninsured deposit or unprotected benefit liability
of Malaysia Deposit Insurance Corporation Act 2011
Notwithstanding any law or contract, if the Corporation causes a portion of a deposit liability that is not insured by the
Corporation or a portion of a takaful or insurance benefit liability that is not protected by the Corporation to be transferred to a bridge institution, the bridge institution shall be subrogated to all of the rights and interests of the creditor in relation to the entire liability and may maintain an action therefor in its own name or in the name of the creditor.
(2)
As soon as the bridge institution has received an amount equal to the portion of the liability that it assumed, the rights and interests of the creditor in relation to the balance of the liability shall revert to the creditor, without any act of transfer or other formality.