Section 47A
Calculation of first premium in respect of new deposit-taking members
of Malaysia Deposit Insurance Corporation Act 2011
The first premiums shall be calculated as follows:
(a)
the first premium to be paid by a new deposit-taking member shall be calculated on the basis as may be prescribed by the Minister;
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(b)
the first premiums of Islamic and conventional deposits shall be calculated separately; and
(c)
the applicable premium rates for each new deposit-taking member shall be based on such criteria as may be prescribed in the regulations.
(2)
The first premium payable by a new deposit-taking member shall be based on returns to be certified by the chief executive of the new deposit-taking member and submitted in such form and within such period as the Corporation may require.