These Regulations shall have effect from the assessment year of 2011.
Overdue charges in respect of deposit-taking members 2.
Where any premium or premium surcharge due and payable under section 47, 48 or 51 has not been paid by a deposit-taking member on a due date, the unpaid premium or premium surcharge shall, without further notice being served on the deposit-taking member, be increased by a sum equal to ten per cent (10%) per annum of the premium or premium surcharge so unpaid, calculated on the actual number of days elapsed and on the basis of a three hundred and sixty five (365) day year and that sum shall be recoverable as if it was premium or premium surcharge due and payable under the Act.
Overdue charges in respect of insurer members 3.
Where any premium or premium surcharge due and payable under section 71, 72 or 75 has not been paid by an insurer member on a due date, the unpaid premium or premium surcharge shall, without further notice being served on the insurer member, be increased by a sum equal to ten per cent (10%) per annum of the premium or premium surcharge so unpaid, calculated on the actual number of days elapsed and on the basis of a three hundred and sixty five (365) day year and that sum shall be recoverable as if it was premium or premium surcharge due and payable under the Act.
P.U. (A) 135 5
Revocation 4.
The Malaysia Deposit Insurance Corporation (Overdue Charges) Regulations 2006 [P.U. (A) 131/2006] are revoked.
Made 20 April 2012
[PIDM/PN/7/2011; PN(PU2)689/II]
TAN SRI DATUK DR. ABDUL SAMAD HAJI ALIAS
Chairman
Malaysia Deposit Insurance Corporation
Approved 2 May 2012
[KK/BPKA/K2/(S)/382/342/3-1; PN(PU2)689/II]
DATO’ SERI AHMAD HUSNI BIN MOHD HANADZLAH
Second Minister of Finance
[To be laid before the Dewan Rakyat pursuant to subsection 209(4) of the Malaysia
Deposit Insurance Corporation Act 2011]