Takaful Order, 2008 · s 10

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10.
Requirements before registration
(1)
The Authority shall not register an applicant under section 9, unless 2989
(a} the applicant is a company as defined in the Companies Act
(Chapter 39) or a company incorporated outside Brunei Darussalam which has an established place of business in Brunei Darussalam;
(b)
the applicant has a surplus of assets over liabilities of not less than such amount as may be determined by the Authority; and
(c)
the applicant has made the deposit required by section 16.
(d) that the aims and operations of the takaful business which the applicant is desired to carry on will not involve any element which is contrary to Hukum Syara'; and
(e)
that there is in the Articles of Association of the company provisions for the establishment of a Syariah advisory body to advise the takaful operator on the operation of its takaful business in order to ensure that it does not involve any element which is contrary to Hukum Syara'.
(2)
For the purpose of subsection (1)(b), different amounts may be prescribed for different classes of takaful business or for different types of takaful operators.

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s 10Requirements before registration

(1)

The Authority shall not register an applicant under section 9, unless 2989

(a} the applicant is a company as defined in the Companies Act

(Chapter 39) or a company incorporated outside Brunei Darussalam which has an established place of business in Brunei Darussalam;

(b)

the applicant has a surplus of assets over liabilities of not less than such amount as may be determined by the Authority; and

(c)

the applicant has made the deposit required by section 16.

(d)

that the aims and operations of the takaful business which the applicant is desired to carry on will not involve any element which is contrary to Hukum Syara'; and

(e)

that there is in the Articles of Association of the company provisions for the establishment of a Syariah advisory body to advise the takaful operator on the operation of its takaful business in order to ensure that it does not involve any element which is contrary to Hukum Syara'.

(2)

For the purpose of subsection (1)(b), different amounts may be prescribed for different classes of takaful business or for different types of takaful operators.