Section 171
Dealings with affected person’s asset
of Malaysia Deposit Insurance Corporation Act 2011
ActIn forceProvision 191 of 236
Section 171
(1)
If an affected person purports to enter into or any person purports to enter into on behalf of the affected person, a transaction or dealing with any asset of the affected person, that transaction or dealing shall be void unless—
(a)
it is a transaction or dealing entered into by the Corporation or the conservator; or
(b)
the prior written consent of the conservator was obtained for the transaction or dealing.
(2)
Any person who purports to enter into a transaction or dealing in contravention of subsection (1) commits an offence.
Malaysia Deposit Insurance Corporation 177