Section 14
Amendment of section 38
of Malaysia Deposit Insurance Corporation (Amendment) Act 2016
Amendment ActIn forceProvision 14 of 98
Section 14
The principal Act is amended by substituting for section 38
the following section:
“Cancellation of membership
Quoted provision
Section 38
The membership of a member institution that is a financial institution shall be cancelled if the licence of the member institution has been surrendered or revoked under the Financial Services Act 2013 or the Islamic Financial
Services Act 2013.”.
Amendment of section 39