Section 81
Discretionary payment in respect of protected benefit
of Malaysia Deposit Insurance Corporation Act 2011
The Corporation may, with the prior written approval of the
Minister, make payment in respect of a protected benefit where—
(a)
the insurer member that issued the takaful certificate or insurance policy, or an insurer member to which the takaful certificate or insurance policy liability has been transferred under subsection 70(1), is unable to make any payment in respect of the protected benefit 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 insurer member is in receivership;
(b)
a petition for winding up against the insurer member has been presented to the court; or
100
(c)
the membership of the insurer member is cancelled or terminated.