Malaysia legislation
Section 14
of MALAYSIA DEPOSIT INSURANCE CORPORATION (AMENDMENT) ACT 2016
Section 14
“Deemed membership
The principal Act is amended by substituting for section 38
the following section:
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