Section 159
Entitlement to dispose of and preserve value of property
of Malaysia Deposit Insurance Corporation Act 2011
Notwithstanding any law and in addition to any other power the Corporation may have under any contract or law, the Corporation as holder of security over any property, whether as chargee, mortgagee, assignee, lienholder or otherwise, shall be entitled—
(a)
to dispose of such property or any part of such property by way of private treaty in accordance with the Fourth
Schedule; and
(b)
where such property consists of land, to take all steps as it deems fit to preserve the value of the land or to facilitate the
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disposal of the land by way of private treaty in accordance with the Fourth Schedule, including entering the land, whether by itself or by any person authorized by it, to inspect, protect, secure, maintain or repair the land.
(2)
The acquisition or disposal of property in accordance with the
Fourth Schedule shall have the effect set out in that Schedule.