Section 90
Discharge of liability, etc., in respect of protected benefit
of Malaysia Deposit Insurance Corporation Act 2011
Payment under this Chapter by the Corporation in respect of any protected benefit discharges the Corporation from all liabilities to the extent of the amount of the payment made in respect of that protected benefit, 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 80, 81, 82
or 88 in such manner as the Corporation deems to be appropriate.
(3)
Without prejudice to subsection (2), the Corporation may make a payment by—
(a)
arranging to have the liability for the protected benefit transferred to and assumed by an insurer member, provided that the obligation shall be assumed by a takaful operator or an insurance company according to whether the protected benefit is under a takaful certificate or an insurance policy; or
Malaysia Deposit Insurance Corporation 107
(b)
paying to the person it considers entitled to the payment the value of that family takaful certificate or value of that life policy but shall not in any case exceed the maximum amount of the protection provided by the Corporation in respect of that benefit.