Takaful Order, 2008 · As enacted · Part III
19. (1)
Official textFrom Attorney General's Chambers, unchanged
Every takaful operator shall establish and keep a register of Brunei
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;
Darussalam takaful certificates where it carries on business relating to Brunei
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;
Darussalam takaful certificates.
Subject to this section, there shall be entered in the register of Brunei
Darussalam certificates, all Brunei Darussalam certificates of the takaful operator and no certificate entered in the register shall be removed from it so long as the takaful operator is under any liability in respect of that certificate.
(3}
Subject to this section, there may be entered in the register of Brunei
Darussalam takaful certificates such other certificates as the takaful operator, with the consent (express or implied) of the participants, may determine, and this 2994
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 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;