Section 64
Discharge of liability, etc., in respect of insured deposit
of Malaysia Deposit Insurance Corporation Act 2011
Payment under this Chapter by the Corporation in respect of any deposit insured by the Corporation discharges the Corporation from all liabilities to the extent of the amount of the payment made in respect of that deposit, and in no case is the Corporation under any obligation to see to the proper application in any way of the payment so made.
(2)
The Corporation may make a payment under section 56, 57, 58
or 61 in such manner as the Corporation deems to be appropriate.
(3)
Without prejudice to subsection (2), the Corporation may make payment by arranging for the person it considers to be entitled to the payment to receive a deposit at a deposit-taking member in the amount of the payment that is repayable on demand, provided that such deposit shall be an Islamic deposit or a conventional deposit according to whether the insured deposit in respect of which the payment is made is an Islamic deposit or a conventional deposit.