Takaful Order, 2008 · s 43

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43.
(1)
No person shall become a controller of a takaful operator incorporated in Brunei Darussalam otherwise than by virtue of an appointment in relation to which section 42(1) has effect, unless-
{a} he has served on the Authority a notice stating that he intends to become a controller of that takaful operator and containing such particulars as may be prescribed; and
(b) the Authority has, before the expiration of a period of 3 months from the date of service of the notice, notified him in writing that there is no objection to his becoming a controller of the takaful operator or such period elapses without the Authority having served on him a notice of objection in writing.
(2)
The Authority may object to the person who intends to become a controller of the takaful operator and serve notice thereof under subsection (1){b}
on the ground that it appears to him that such person is not "a fit and proper person" to so become, but before serving such notice the Authority shall serve on that person a notice in writing stating -
{a} that the Authority is considering the service on that person of a notice of objection on that ground; and
{b) that person may, within one month from the date of service of the notice, make representations in writing to the Authority.
(3)
The Authority shall not be obliged to disclose any particulars of the grounds on which he is considering the service of the notice of objection or on which he has served the notice of objection.
(4)
Where representations are made in accordance with this section, the
Authority shall take them into consideration in deciding whether to serve the notice of objection.

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s 43

(1)

No person shall become a controller of a takaful operator incorporated in Brunei Darussalam otherwise than by virtue of an appointment in relation to which section 42(1) has effect, unless-

{a} he has served on the Authority a notice stating that he intends to become a controller of that takaful operator and containing such particulars as may be prescribed; and

(b)

the Authority has, before the expiration of a period of 3 months from the date of service of the notice, notified him in writing that there is no objection to his becoming a controller of the takaful operator or such period elapses without the Authority having served on him a notice of objection in writing.

(2)

The Authority may object to the person who intends to become a controller of the takaful operator and serve notice thereof under subsection (1){b}

on the ground that it appears to him that such person is not "a fit and proper person" to so become, but before serving such notice the Authority shall serve on that person a notice in writing stating -

{a} that the Authority is considering the service on that person of a notice of objection on that ground; and

{b) that person may, within one month from the date of service of the notice, make representations in writing to the Authority.

(3)

The Authority shall not be obliged to disclose any particulars of the grounds on which he is considering the service of the notice of objection or on which he has served the notice of objection.

(4)

Where representations are made in accordance with this section, the

Authority shall take them into consideration in deciding whether to serve the notice of objection.