Malaysia Deposit Insurance Corporation (Temporary Suspension Period) Regulations 2012

Deposit Taking Member (Resolution)

WARTA KERAJAAN PERSEKUTUAN

FEDERAL GOVERNMENT GAZETTE

PERATURAN-PERATURAN PERBADANAN INSURANS DEPOSIT MALAYSIA (TEMPOH PENGGANTUNGAN SEMENTARA) 2012

MALAYSIA DEPOSIT INSURANCE CORPORATION (TEMPORARY SUSPENSION PERIOD) REGULATIONS 2012


AKTA PERBADANAN INSURANS DEPOSIT MALAYSIA 2011

PERATURAN-PERATURAN PERBADANAN INSURANS DEPOSIT MALAYSIA (TEMPOH PENGGANTUNGAN SEMENTARA) 2012

PADA menjalankan kuasa yang diberikan oleh perenggan 209(1)(a) dan subseksyen 115(3) dan 180(1) Akta Perbadanan Insurans Deposit Malaysia 2011 [Akta 720], Perbadanan, dengan kelulusan Menteri, membuat peraturan-peraturan yang berikut:

Nama dan permulaan kuat kuasa

  1. (1) Peraturan-peraturan ini bolehlah dinamakan Peraturan-Peraturan Perbadanan Insurans Deposit Malaysia (Tempoh Penggantungan Sementara) 2012.

(2) Peraturan-Peraturan ini mula berkuat kuasa pada 6 Disember 2012.

Tempoh penggantungan sementara

  1. (1) Tertakluk kepada peraturan 3, jika Perbadanan atau orang dilantik mengambil alih kawalan suatu institusi anggota atau seorang penerima dilantik berkenaan dengan suatu institusi anggota menurut Akta, seksyen 109 Akta hendaklah menghalang penamatan suatu perjanjian kewangan yang layak bagi tempoh sepuluh hari berikutan permulaan pengambilalihan kawalan atau pelantikan penerima.

(2) Tertakluk kepada peraturan 3, jika seorang konservator telah dilantik untuk mentadbirkan orang terjejas, tiada seorang pun yang menjadi pihak balas kepada suatu perjanjian kewangan yang layak dengan orang terjejas boleh menamatkan perjanjian itu, menjalankan apa-apa hak tolakan di bawah perjanjian itu atau menjalankan apa-apa remedi atau hak terhadap orang terjejas atau asetnya, berkenaan dengan suatu perjanjian kewangan yang layak, bagi tempoh sepuluh hari berikutan pelantikan konservator.

Ketidakpakaian peraturan 2

  1. Peraturan 2 tidak terpakai bagi suatu perjanjian kewangan yang layak yang ialah―

(a) suatu derivatif, sama ada diselesaikan melalui pembayaran atau hantar serah, yang diniagakan di suatu bursa, lembaga atau pasaran lain yang dikawal selia bagi derivatif, niaga hadapan atau opsyen;

(b) suatu perjanjian untuk meminjam atau meminjamkan sekuriti atau komoditi, termasuk suatu perjanjian untuk memindahkan sekuriti atau komoditi yang di bawahnya peminjam boleh membayar balik pinjaman itu dengan menggunakan sekuriti atau komoditi lain, wang tunai atau yang bersamaan dengan wang tunai, yang dijalankan di bawah model agensi pinjaman pusat;

(c) suatu perjanjian untuk menjelaskan atau menyelesaikan transaksi sekuriti, niaga hadapan, opsyen atau derivatif; dan

(d) suatu perjanjian untuk bertindak sebagai suatu depositori sekuriti.

Dibuat 16 November 2012 [PIDM/PN/5/2012; PN(PU2)689/II]

TAN SRI DATUK DR ABDUL SAMAD HAJI ALIAS Pengerusi Perbadanan Insurans Deposit Malaysia

Diluluskan 26 November 2012 [PIDM/PN/5/2012; PN(PU2)689/II]

DATO’ SERI AHMAD HUSNI MOHAMAD HANADZLAH Menteri Kewangan Kedua

[Akan dibentangkan di hadapan Dewan Rakyat menurut subseksyen 209(4) Akta Perbadanan Insurans Deposit Malaysia 2011]


MALAYSIA DEPOSIT INSURANCE CORPORATION ACT 2011

MALAYSIA DEPOSIT INSURANCE CORPORATION (TEMPORARY SUSPENSION PERIOD) REGULATIONS 2012

IN exercise of the powers conferred by paragraph 209(1)(a) and subsections 115(3) and 180(1) of the Malaysia Deposit Insurance Corporation Act 2011 [Act 720], the Corporation, with the approval of the Minister, makes the following regulations:

Citation and commencement

  1. (1) These regulations may be cited as the Malaysia Deposit Insurance Corporation (Temporary Suspension Period) Regulations 2012.

(2) These Regulations come into operation on 6 December 2012.

Temporary suspension period

  1. (1) Subject to regulation 3, where the Corporation or the appointed person assumes control of a member institution or a receiver is appointed in respect of a member institution pursuant to the Act, section 109 of the Act shall prevent the termination of a qualified financial agreement for a period of ten days following the commencement of the assumption of control or the appointment of the receiver.

(2) Subject to regulation 3, where a conservator has been appointed to administer an affected person, no person who is a counterparty to a qualified financial agreement with the affected person may terminate such agreement, exercise any right of set off under such agreement or exercise any remedy or right against the affected person or its assets, in respect of a qualified financial agreement, for a period of ten days following the appointment of the conservator.

Non-application of regulation 2

  1. Regulation 2 shall not apply to a qualified financial agreement which is―

(a) a derivative, whether to be settled by payment or delivery, that trades on a derivative, futures or options exchange or board or other regulated market;

(b) an agreement to borrow or lend securities or commodities, including an agreement to transfer securities or commodities under which the borrower may repay the loan with other securities or commodities, cash or cash equivalents, conducted under the central lending agency model;

(c) an agreement to clear or settle securities, futures, options or derivatives transactions; and

(d) an agreement to act as a depository for securities.

Made 16 November 2012 [PIDM/PN/5/2012; PN(PU2)689/II]

TAN SRI DATUK DR ABDUL SAMAD HAJI ALIAS Chairman Malaysia Deposit Insurance Corporation

Approved 26 November 2012 [PIDM/PN/5/2012; PN(PU2)689/II]

DATO’ SERI AHMAD HUSNI MOHAMAD 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]

# WARTA KERAJAAN PERSEKUTUAN
# FEDERAL GOVERNMENT GAZETTE

# PERATURAN-PERATURAN PERBADANAN INSURANS DEPOSIT MALAYSIA (TEMPOH PENGGANTUNGAN SEMENTARA) 2012
# MALAYSIA DEPOSIT INSURANCE CORPORATION (TEMPORARY SUSPENSION PERIOD) REGULATIONS 2012

---

# AKTA PERBADANAN INSURANS DEPOSIT MALAYSIA 2011
# PERATURAN-PERATURAN PERBADANAN INSURANS DEPOSIT MALAYSIA (TEMPOH PENGGANTUNGAN SEMENTARA) 2012

PADA menjalankan kuasa yang diberikan oleh perenggan 209(1)(a) dan subseksyen 115(3) dan 180(1) Akta Perbadanan Insurans Deposit Malaysia 2011 [Akta 720], Perbadanan, dengan kelulusan Menteri, membuat peraturan-peraturan yang berikut:

### Nama dan permulaan kuat kuasa
1. (1) Peraturan-peraturan ini bolehlah dinamakan Peraturan-Peraturan Perbadanan Insurans Deposit Malaysia (Tempoh Penggantungan Sementara) 2012.

(2) Peraturan-Peraturan ini mula berkuat kuasa pada 6 Disember 2012.

### Tempoh penggantungan sementara
2. (1) Tertakluk kepada peraturan 3, jika Perbadanan atau orang dilantik mengambil alih kawalan suatu institusi anggota atau seorang penerima dilantik berkenaan dengan suatu institusi anggota menurut Akta, seksyen 109 Akta hendaklah menghalang penamatan suatu perjanjian kewangan yang layak bagi tempoh sepuluh hari berikutan permulaan pengambilalihan kawalan atau pelantikan penerima.

(2) Tertakluk kepada peraturan 3, jika seorang konservator telah dilantik untuk mentadbirkan orang terjejas, tiada seorang pun yang menjadi pihak balas kepada suatu perjanjian kewangan yang layak dengan orang terjejas boleh menamatkan perjanjian itu, menjalankan apa-apa hak tolakan di bawah perjanjian itu atau menjalankan apa-apa remedi atau hak terhadap orang terjejas atau asetnya, berkenaan dengan suatu perjanjian kewangan yang layak, bagi tempoh sepuluh hari berikutan pelantikan konservator.

### Ketidakpakaian peraturan 2
3. Peraturan 2 tidak terpakai bagi suatu perjanjian kewangan yang layak yang ialah―

(a) suatu derivatif, sama ada diselesaikan melalui pembayaran atau hantar serah, yang diniagakan di suatu bursa, lembaga atau pasaran lain yang dikawal selia bagi derivatif, niaga hadapan atau opsyen;

(b) suatu perjanjian untuk meminjam atau meminjamkan sekuriti atau komoditi, termasuk suatu perjanjian untuk memindahkan sekuriti atau komoditi yang di bawahnya peminjam boleh membayar balik pinjaman itu dengan menggunakan sekuriti atau komoditi lain, wang tunai atau yang bersamaan dengan wang tunai, yang dijalankan di bawah model agensi pinjaman pusat;

(c) suatu perjanjian untuk menjelaskan atau menyelesaikan transaksi sekuriti, niaga hadapan, opsyen atau derivatif; dan

(d) suatu perjanjian untuk bertindak sebagai suatu depositori sekuriti.

Dibuat 16 November 2012
[PIDM/PN/5/2012; PN(PU2)689/II]

TAN SRI DATUK DR ABDUL SAMAD HAJI ALIAS
Pengerusi
Perbadanan Insurans Deposit Malaysia

Diluluskan 26 November 2012
[PIDM/PN/5/2012; PN(PU2)689/II]

DATO’ SERI AHMAD HUSNI MOHAMAD HANADZLAH
Menteri Kewangan Kedua

[Akan dibentangkan di hadapan Dewan Rakyat menurut subseksyen 209(4) Akta Perbadanan Insurans Deposit Malaysia 2011]

---

# MALAYSIA DEPOSIT INSURANCE CORPORATION ACT 2011
# MALAYSIA DEPOSIT INSURANCE CORPORATION (TEMPORARY SUSPENSION PERIOD) REGULATIONS 2012

IN exercise of the powers conferred by paragraph 209(1)(a) and subsections 115(3) and 180(1) of the Malaysia Deposit Insurance Corporation Act 2011 [Act 720], the Corporation, with the approval of the Minister, makes the following regulations:

### Citation and commencement
1. (1) These regulations may be cited as the Malaysia Deposit Insurance Corporation (Temporary Suspension Period) Regulations 2012.

(2) These Regulations come into operation on 6 December 2012.

### Temporary suspension period
2. (1) Subject to regulation 3, where the Corporation or the appointed person assumes control of a member institution or a receiver is appointed in respect of a member institution pursuant to the Act, section 109 of the Act shall prevent the termination of a qualified financial agreement for a period of ten days following the commencement of the assumption of control or the appointment of the receiver.

(2) Subject to regulation 3, where a conservator has been appointed to administer an affected person, no person who is a counterparty to a qualified financial agreement with the affected person may terminate such agreement, exercise any right of set off under such agreement or exercise any remedy or right against the affected person or its assets, in respect of a qualified financial agreement, for a period of ten days following the appointment of the conservator.

### Non-application of regulation 2
3. Regulation 2 shall not apply to a qualified financial agreement which is―

(a) a derivative, whether to be settled by payment or delivery, that trades on a derivative, futures or options exchange or board or other regulated market;

(b) an agreement to borrow or lend securities or commodities, including an agreement to transfer securities or commodities under which the borrower may repay the loan with other securities or commodities, cash or cash equivalents, conducted under the central lending agency model;

(c) an agreement to clear or settle securities, futures, options or derivatives transactions; and

(d) an agreement to act as a depository for securities.

Made 16 November 2012
[PIDM/PN/5/2012; PN(PU2)689/II]

TAN SRI DATUK DR ABDUL SAMAD HAJI ALIAS
Chairman
Malaysia Deposit Insurance Corporation

Approved 26 November 2012
[PIDM/PN/5/2012; PN(PU2)689/II]

DATO’ SERI AHMAD HUSNI MOHAMAD 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]

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