Section 46A
Definitions
of Malaysia Deposit Insurance Corporation Act 2011
For the purposes of this Chapter—
(a)
“total insured deposits” means the total deposits separately insured as Islamic deposits or conventional deposits under section 42, calculated in such manner as specified by the
Corporation;
(b)
“transferring party” means a person, including a deposit-taking member, which transfers its business under a business transfer scheme;
(c)
“business transfer scheme” refers to a scheme of transfer for the whole or material part of the deposit-taking business;
and
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(d)
“transfer date” means the date on which a business transfer scheme takes effect as specified by the Corporation.
(2)
For the purposes of paragraph (1)(c), the Corporation may specify what constitutes a material part of the deposit-taking business.