Takaful Order, 2008 · s 11

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s 11Conditions of registration

(1)

The Authority may-

(a)

impose conditions on the registration of a takaful operator; or

(b)

add to, vary or revoke any conditions of registration of a takaful operator who is registered under this Order in order for it to remain so registered.

(2)

Any takaful operator which fails to comply with any condition imposed by the Authority under subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $20,000, and in the case of a continuing offence to a further fine not exceeding $1,000 for every day during which the offence continues after conviction.

Registration and annual fees.