Takaful Order, 2008 · s 15th

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15th. OCTOBER/ 2008
Order shall apply in relation to any certificate so entered as if it were a Brunei
Darussalam takaful certificate.
(4)
Subject to subsection j5), a takaful operator carrying on family takaful business outside Brunei Darussalam (and not doing so only by the collection or receipt of contributions) may, at the request of the participant of a certificate belonging to the takaful operator/ s family takaful business
(a} refrain from entering the certificate in the register of Brunei
Darussalam takaful certificates, notwithstanding that it is a Brunei
Darussalam certificate; or
(b) remove the certificate from the register of Brunei Darussalam takaful certificates, and this Order shall thereafter apply in relation to that certificate as if it were not a Brunei Darussalam certificate.
{5)
Regulations may provide that subsections (3) and (4) shall apply only in such cases as may be prescribed or shall have effect subject to any prescribed exceptions or restrictions.
(6)
A Brunei Darussalam takaful operator shall 1 at the request of any person having an interest in any certificate of the takaful operator, inform him whether or not the certificate is entered in any register of certificates established by the takaful operator under this Order.
{7)
Where a Brunei Darussalam takaful operator has established under this
Order any register of certificates/ the register shall cease to exist as a statutory register under this Order of certificates belonging to either class of takaful business, if the takaful operator ceases to be registered under this Order in respect of that class of business; and any reference in this Order to certificates registered under this Order shall be construed accordingly.
(8)
Subject to subsection (7L the register shall, notwithstanding that the takaful operator at any time has ceased to carry on in Brunei Darussalam either class of takaful business, continue to be maintained by the takaful operator for certificates belonging to that class so long as the takaful operator is under any liability in respect of those certificates registered or required to be registered at that time; but no certificates belonging to either class of business shall be entered in the register under subsection {3) when the takaful operator is not carrying on that class of business in Brunei Darussalam or is doing so only by the collection or receipt of contributions.
{9)
The register of an existing takaful operator shall be established as at the beginning of the initial accounting period, which shall be taken for the purposes of this Order to be the date of the establishment of the register.
2995

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s 15th

OCTOBER/ 2008

Order shall apply in relation to any certificate so entered as if it were a Brunei

Darussalam takaful certificate.

(4)

Subject to subsection j5), a takaful operator carrying on family takaful business outside Brunei Darussalam (and not doing so only by the collection or receipt of contributions) may, at the request of the participant of a certificate belonging to the takaful operator/ s family takaful business

(a} refrain from entering the certificate in the register of Brunei

Darussalam takaful certificates, notwithstanding that it is a Brunei

Darussalam certificate; or

(b)

remove the certificate from the register of Brunei Darussalam takaful certificates, and this Order shall thereafter apply in relation to that certificate as if it were not a Brunei Darussalam certificate.

{5)

Regulations may provide that subsections (3) and (4) shall apply only in such cases as may be prescribed or shall have effect subject to any prescribed exceptions or restrictions.

(6)

A Brunei Darussalam takaful operator shall 1 at the request of any person having an interest in any certificate of the takaful operator, inform him whether or not the certificate is entered in any register of certificates established by the takaful operator under this Order.

{7)

Where a Brunei Darussalam takaful operator has established under this

Order any register of certificates/ the register shall cease to exist as a statutory register under this Order of certificates belonging to either class of takaful business, if the takaful operator ceases to be registered under this Order in respect of that class of business; and any reference in this Order to certificates registered under this Order shall be construed accordingly.

(8)

Subject to subsection (7L the register shall, notwithstanding that the takaful operator at any time has ceased to carry on in Brunei Darussalam either class of takaful business, continue to be maintained by the takaful operator for certificates belonging to that class so long as the takaful operator is under any liability in respect of those certificates registered or required to be registered at that time; but no certificates belonging to either class of business shall be entered in the register under subsection {3) when the takaful operator is not carrying on that class of business in Brunei Darussalam or is doing so only by the collection or receipt of contributions.

{9)

The register of an existing takaful operator shall be established as at the beginning of the initial accounting period, which shall be taken for the purposes of this Order to be the date of the establishment of the register.

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