Section 92
Amendment of section 204
of Malaysia Deposit Insurance Corporation (Amendment) Act 2016
Amendment ActIn forceProvision 92 of 98
Section 92
The principal Act is amended by substituting for section 204
the following section:
“Intention to wind up a member institution
Quoted provision
Section 204
(1)
A member institution shall not be wound up voluntarily without the prior written approval of Bank Negara Malaysia.
(2)
No application for the winding up of a member institution may be presented to the High Court by any person, other than by the Corporation, without the prior written approval of Bank Negara Malaysia.
(3)
This section applies to a former member institution the membership of which has been cancelled or terminated under this Act.”.
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