Islamic Banking Act · s 72

Suggest a correction

Tell us what is wrong in this text. We check every suggestion against the official version before we change anything.

What is wrong?Wrong or mistyped wordsWrong structure or numberingWrong title or detailsText that appears twice

What should change, and whyUp to 2,000 characters.The text as it should read (optional)Edit the text above. Up to 20,000 characters.Where you checked it (optional)A link to the official version, if you have one.

The text as we hold it

Open the official text

s 72Liability in respect of unclaimed money

(1)

Any Islamic bank that pays unclaimed money to the Authority in compliance with this Act is relieved from all further liability, other than a liability arising under any other written law in respect of the money concerned.

(2)

This section does not operate to relieve an Islamic bank from —

(a)

any obligation to comply with section 71 or a requirement, notice or direction under this Part; or

(b)

liability in respect of money paid to the Authority in purported compliance with this Act if the Authority repays the money to the Islamic bank under this Part.