Malaysia legislation
Section 93
of MALAYSIA DEPOSIT INSURANCE CORPORATION (AMENDMENT) ACT 2016
Section 93
“Intention to wind up a member institution
The principal Act is amended by inserting after section 207
the following section:
“Exemption from liability 207a. No director of a member institution shall be liable to be sued in any court or before any other authority for not being able to carry out his duty under subsection 132(1) of the Companies Act 1965 in relation to any act necessary to effect—
(a)
the transfer of business, assets and liabilities of the member institution;
(b)
the transfer of shares and capital instruments of the member institution; and
(c)
the transfer of warrants or any other instruments, issued by the member institution, that entitle the holders to acquire shares in the member institution, pursuant to the exercise of any powers under this Act.”.
Amendment of section 209