The Ultimate Guide To deposit insurance in malaysia

(b) wherever the property in the deposit-getting member referred to in paragraph (a) is in surplus just after payment has long been produced to fulfill its liabilities below subparagraph (a)(ii), these surplus property in the deposit-having member shall be applied to fulfill the liabilities of the deposit-using member including the liabilities with the deposit-using member less than segment 134 in the buy of priority mentioned therein.

(e) "transfer day" suggests the date said over a transfer purchase as the date on which any shares are transferred or are deemed being transferred to your transferee.

(3) Any act performed by a transferee, transferor or almost every other particular person, in reliance of a transfer buy previously issued shall not be afflicted by any omission or mistake rectified within a substitute transfer purchase issued below subsection (one)." .

"(four) If any with the situations stipulated in subsections (2) and (three) is not fulfilled, the level of the obligatory payment shall be dependant on the amount that may are already payable for a credit card debt due to certificate owner or coverage owner about the day the takaful certification or coverage ceased to be in power great post to read being a refund of the portion of the takaful contribution or top quality that is commensurate With all the remaining duration of the takaful certificate or coverage." .

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(b) issue a penned discover of termination this hyperlink of membership on the member establishment whose membership shall terminate on the expiration in the period specified in the observe." ;

(a) may possibly keep on the insurance company's everyday living organization that has a check out to these kinds of company staying transferred as being a heading issue to a different insurance organization but shall not influence a whole new coverage; and

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‘ "thought", in relation to a transfer of shares referred to in paragraph ninety nine(one)(ga), suggests a net volume compensated or payable for the transferor in regard on the shares issued by a member establishment which might be transferred pursuant to a transfer get issued underneath portion 128B ;';

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(a) "financial collateral" means any of the subsequent that is definitely topic to an interest or simply a suitable that secures payment or functionality of an obligation in regard of a qualified financial settlement or that is definitely issue to some title transfer credit score guidance settlement:

"(2A) Exactly where the Corporation would make a transfer referred to in paragraph ninety nine(one)(ga) or extinguishes the legal rights referred to in paragraph 128B(7)(b), a request for a review in accordance with the First Timetable is the only signifies by which the quantity of the thought site obtained or receivable in such transfer or the level of the payment acquired or receivable in respect in the rights so extinguished might be questioned, and no court may possibly entertain any motion, match or proceeding searching for to issue the amount of the consideration or payment.

(i) a bank draft, traveller's cheque, pay as you go letter of credit, funds purchase or other identical instrument in regard of which the deposit having member is mainly liable;

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