You are right.
By the section of 31(17) of the OIC insurance act.” It was stated that the sales of the company’s asset over than what the register determination of value shall be request from the OIC register first.”
I have confirmed with the OIC staff that there is no announcement subsequent stated the determined amount by the register hence it shall be apply since 0 value upward to request for the OIC. And they also need the BOD meeting for this matter also.
For your information and consideration.