Takaful Order, 2008 · As enacted · Part I
1. (1)
Official textFrom Attorney General's Chambers, unchanged
This Order may be cited as the Takaful Order, 2008 and shall commence on a date to be appointed by the Minister, with the approval of
takaful
"takaful" means a scheme in accordance to Hukum Syara' based on brotherhood, solidarity and mutual assistance which provides for mutual financial aid and assistance to the participants in case of need whereby the participants mutually agree to contribute for the purpose;
His Majesty the Sultan and Yang Di-Pertuan, by notice in the Gazette.
The Minister may appoint different dates for the commencement of different provisions of this Order or for different purposes of the same provision.
The long title of this Order is nAn Order to provide for the regulation of takaful business in Brunei Darussalam and for other purposes relating thereto or connected with takafuln.
takaful business
"takaful business" includes the business of takaful whose aims and operations are in accordance with Hukum Syara';
Terms defined in s 2
takaful
Defined · s 2"takaful" means a scheme in accordance to Hukum Syara' based on brotherhood, solidarity and mutual assistance which provides for mutual financial aid and assistance to the participants in case of need whereby the participants mutually agree to contribute for the purpose;
takaful business
Defined · s 2"takaful business" includes the business of takaful whose aims and operations are in accordance with Hukum Syara';