45. Duty to notify change of controller, managing director, director, chief executive or principal officer

A person who becomes or ceases to be controller of a takaful operator shall, within 7 days from the day following that on which he becomes or ceases to be a controller, notify the takaful operator in writing of that fact and of such other matters as may be prescribed; and a person who is appointed a managing director, director, chief executive or principal officer of any such takaful operator shall, within 7 days from the day following that on which he is so appointed, notify the takaful operator in writing of such matters as may be prescribed.

A takaful operator shall give notice in writing to the Authority of the fact that any person has become or ceased to be its controller or appointed or ceased to be a managing director, director, chief executive or principal officer and of any matter of which such person is required to notify the takaful operator under subsection (1}; and the notice shall be given within 14 days from the day following that on which that fact or matter came to the knowledge of the takaful operator.