Section 44
New section 78a
of Malaysia Deposit Insurance Corporation (Amendment) Act 2016
Amendment ActIn forceProvision 44 of 98
Section 44
The principal Act is amended by inserting after section 78
under Chapter 3 of Part V the following section:
“Definitions 78a. For the purposes of this Chapter—
(a)
“value of that life policy” means the value as may be prescribed under subsection 83(3);
(b)
“value of that family takaful certificate” means the value as may be prescribed under subsection 83(2);
and
(c)
“takaful contribution” means the amount payable by a certificate owner to a takaful operator under a takaful certificate and includes any remuneration for the functions and duties assumed by the takaful operator.”.
Amendment of section 80