Section 207A
Exemption from liability
of Malaysia Deposit Insurance Corporation Act 2011
ActIn forceProvision 229 of 236
Section 207A
No director of a member institution shall be liable to be sued in any court or before any other authority for not being able to carry out his duty under subsection 213(1) of the Companies Act 2016 in relation to any act necessary to effect—
(a)
the transfer of business, assets and liabilities of the member institution;
(b)
the transfer of shares and capital instruments of the member institution; and
(c)
the transfer of warrants or any other instruments, issued by the member institution, that entitle the holders to acquire shares in the member institution, pursuant to the exercise of any powers under this Act.
Malaysia Deposit Insurance Corporation 205