Section 78
Levies and surcharges on insurer members deemed earned
of Malaysia Deposit Insurance Corporation Act 2011
ActIn forceProvision 84 of 236
Section 78
(1)
Subject to subsection (2), any levy or levy surcharge payable under this Part shall be deemed to be fully earned when payable and shall not be refundable.
(2)
The Minister may, on the recommendation of the Corporation, by order published in the Gazette—
(a)
provide for the partial or total reduction, waiver, refund or rebate of the amount of any levy or levy surcharge to such insurer member; and
Malaysia Deposit Insurance Corporation 97
(b)
specify any condition in respect of paragraph (a).
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