Malaysia Deposit Insurance Corporation (Allocation of Expenses, Costs or Losses) Order 2011

WARTA KERAJAAN PERSEKUTUAN
FEDERAL GOVERNMENT GAZETTE

22 Ogos 2011
22 August 2011
P.U. (A) 288

PERINTAH PERBADANAN INSURANS DEPOSIT MALAYSIA
(PENGAGIHAN PERBELANJAAN, KOS ATAU KERUGIAN) 
2011

MALAYSIA DEPOSIT INSURANCE CORPORATION 
(ALLOCATION OF EXPENSES, COSTS OR LOSSES) 
ORDER 2011

DISIARKAN OLEH/
PUBLISHED BY
JABATAN PEGUAM NEGARA/
ATTORNEY GENERAL’S CHAMBERS

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MALAYSIA DEPOSIT INSURANCE CORPORATION ACT 2011

MALAYSIA DEPOSIT INSURANCE CORPORATION (ALLOCATION OF EXPENSES, COSTS OR LOSSES) ORDER 2011

IN exercise of the powers conferred by subsection 28(2) of the Malaysia Deposit Insurance Corporation Act 2011 [Act 720], the Corporation makes the following order:

### Citation and commencement

1. (1) This order may be cited as the Malaysia Deposit Insurance Corporation (Allocation of Expenses, Costs or Losses) Order 2011.

(2) This Order shall have effect from the assessment year of 2011.

### Common expenses, costs or losses of the deposit insurance system

2. Where expenses, costs or losses are attributable to the deposit insurance system but cannot be specifically attributed to a particular deposit insurance fund or funds in the system, the Corporation shall allocate these expenses, costs or losses as follows:

(a) with respect to the assessment year of 2011, in proportion to the amount of the premiums collected for the respective funds in the deposit insurance system in the assessment year of 2011; and

(b) with respect to each assessment year following the assessment year of 2011, in proportion to the amount of the premiums collected for the respective funds in the deposit insurance system in the preceding assessment year.

### Common expenses, costs or losses of the takaful and insurance benefits protection system

3. Where expenses, costs or losses are attributable to the takaful and insurance benefits protection system but cannot be specifically attributed to a particular takaful or insurance protection fund or funds in the system, the Corporation shall allocate these expenses, costs or losses as follows:

(a) with respect to the assessment year of 2011, in proportion to the amount of premiums collected for the respective takaful and insurance protection funds in the takaful and insurance benefits protection system in the assessment year of 2011; and

(b) with respect to each assessment year following the assessment year of 2011, in proportion to the amount of premiums collected for the respective takaful and insurance protection funds in the takaful and insurance benefits protection system in the preceding assessment year.

### Common expenses, costs or losses of the deposit insurance system and the takaful and insurance benefits protection system

4. Where expenses, costs or losses cannot be specifically attributed to either the deposit insurance system or the takaful and insurance benefits protection system, the Corporation shall allocate these expenses, costs or losses as follows:

(a) with respect to the assessment year of 2011, in proportion to the amount of premiums collected for the respective funds in the deposit insurance system and the takaful and insurance benefits protection system in the assessment year of 2011; and

(b) with respect to each assessment year following the assessment year of 2011, in proportion to the amount of premiums collected for the respective funds in the deposit insurance system and the takaful and insurance benefits protection system in the preceding assessment year.

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Made 11 August 2011
[PIDM/PN/6/2011; PN(PU2)689]

TAN SRI DATO’ ABDUL AZIZ BIN HAJI TAHA
Chairman
Malaysia Deposit Insurance Corporation