Malaysia legislation
Section 44
of MALAYSIA DEPOSIT INSURANCE CORPORATION (AMENDMENT) ACT 2016
Section 44
The principal Act is amended by inserting after section 78
under Chapter 3 of Part V the following section:
(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