Section 23
Section 51 of the principal Act is amended—
of Malaysia Deposit Insurance Corporation (Amendment) Act 2016
Amendment ActIn forceProvision 23 of 98
Section 23
(a)
by substituting for subsection (2) the following subsection:
“(2) The premium surcharge payable by a deposit-taking member under subsection (1) in any particular assessment year shall not exceed the premium
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payable by the deposit-taking member in respect of the preceding assessment year or one million ringgit, whichever is higher.”;
(b)
by deleting paragraph (3)(a); and
(c)
in paragraph (3)(b), by inserting after the words
“notifications,” the words “directives,”.