Section 57
Discretionary payment
of Malaysia Deposit Insurance Corporation Act 2011
The Corporation may, with the prior written approval of the
Minister, make payment in respect of any deposit insured by the
Corporation where—
(a)
a deposit-taking member that holds the deposit, a former deposit-taking member as referred to in paragraph 40(1)(b)
or a person to whom the deposit liability has been transferred under subsection 44(1), is unable to make any payment in respect of the deposit, by reason of—
(i)
an order of a court;
(ii)
any action taken by a regulatory body or the
Corporation; or
(iii)
any action taken by a receiver, manager or receiver and manager during the period in which the deposit-taking member or the person to whom the deposit liability has been transferred is in receivership;
(b)
a petition for winding up has been presented to the court against the deposit-taking member that holds the deposit or a person to whom the deposit liability has been transferred under subsection 44(1); or
(c)
the membership of the deposit-taking member that holds the deposit is cancelled or terminated.