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new deposit-taking member "new deposit-taking member" means a financial institution which is deemed to be a member institution by virtue of paragraph 36(1)(b) of the Act for a period of 12 months or less, such period ending on 31 December of its first assessment year but does not include:- (a) an Islamic bank licensed under the Islamic Banking Act 1983 [Act 276] that originated from a financial institution carrying on Islamic banking business or Islamic financial business under section 124 of the Banking and Financial Institutions Act 1989 [Act 372]; (b) an amalgamated deposit-taking member as described in subparagraph 14(1) of the Schedule; and (c) an amalgamating deposit-taking member as described in subparagraph 14(3) of the Schedule;
PU(A) 034/2011 - MALAYSIA DEPOSIT INSURANCE CORPORATION (DIFFERENTIAL PREMIUM SYSTEMS IN RESPECT OF DEPOSIT-TAKING MEMBERS) REGULATIONS 2011
2. Interpretation |