Takaful Order, 2008 · s 15

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s 15

(1)

A takaful operator shall not carry on investment-linked takaful business or annuity takaful business in Brunei Darussalam without the approval in writing of the Authority and subject to such conditions as he may impose.

(2)

In this section, "investment-linked takaful business" means the effecting and carrying out of a contract of family takaful under which the benefit payable to the participant is the greater between -

(a}

a specified minimum amount payable on death, on survival to a specified date, or at specified intervals; and

(b)

an amount which is determined by reference to the value at the relevant date of, or the income during the relevant period from, assets of a description specified in the certificate or in any related statement.

2992

Deposits, registers of certificates, takaful funds and re-takaful