Takaful Order, 2008 · As enacted · Part III
11. Conditions of registration
Official textFrom Attorney General's Chambers, unchanged
The Authority may-
Authority
"Authority" means such person as is appointed by His Majesty the Sultan and Yang Di-Pertuan under section 4(1) to be the Authority for the purposes of this Order;
impose conditions on the registration of a takaful operator; or
add to, vary or revoke any conditions of registration of a takaful operator who is registered under this Order in order for it to remain so registered.
Any takaful operator which fails to comply with any condition imposed by the Authority under subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $20,000, and in the case of a continuing offence to a further fine not exceeding $1,000 for every day during which the offence continues after conviction.
takaful operator
"takaful operator" means a takaful operator which has been registered by the Authority under this Order; 11Undertakingn shall be construed in accordance with Part III of the First Schedule;
Registration and annual fees.
Terms defined in s 2
Authority
Defined · s 2"Authority" means such person as is appointed by His Majesty the Sultan and Yang Di-Pertuan under section 4(1) to be the Authority for the purposes of this Order;
takaful operator
Defined · s 2"takaful operator" means a takaful operator which has been registered by the Authority under this Order; 11Undertakingn shall be construed in accordance with Part III of the First Schedule;