Section 45
Section 80 of the principal Act is amended—
of Malaysia Deposit Insurance Corporation (Amendment) Act 2016
Amendment ActIn forceProvision 45 of 98
Section 45
(a)
in subsection (1)—
(i)
by deleting the words “Subject to subsection (4), the”; and
(ii)
in the English language text, by substituting for the word “Corporation” the words “The
Corporation”;
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(b)
by deleting subsection (4); and
(c)
in subsection (5)—
(i)
by substituting for the words “actuarial valuation reserve” wherever appearing the words “value of that family takaful certificate or value of that life policy”; and
(ii)
in subparagraph (b)(ii) in the English language text, by substituting for the words “actuarial valuation reserve” the words “value of those family takaful certificates or value of those life policies”.