Section 37
Terms and conditions of membership
of Malaysia Deposit Insurance Corporation Act 2011
ActIn forceProvision 37 of 236
Section 37
(1)
The terms and conditions of membership of a member institution shall be prescribed by regulations made under section 209.
(2)
A member institution shall comply with the terms and conditions as may be prescribed pursuant to subsection (1).
(3)
Any person who contravenes subsection (2) commits an offence and shall, on conviction, be liable to a fine not exceeding five million
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ringgit or to imprisonment for a term not exceeding five years or to both and shall, in addition, be liable to a daily fine not exceeding fifty thousand ringgit for every day the offence continues after conviction.