Takaful Order, 2008 · As enacted · Part III
Section 46
Official textFrom Attorney General's Chambers, unchanged
The Authority may cause to be inspected, under conditions of secrecy, the books, accounts and transactions of any takaful operator, and of any of its branch offices and counters.
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;
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For the purposes of an inspection pursuant to subsection (1), the takaful operator shall allow access to its books, accounts and documents and shall give such information and facilities as may be required to conduct the inspection:
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;
Provided that the books, accounts and documents shall not be required to be produced at any time or place which interferes with the proper conduct of the normal daily business of the takaful operator.
Where the Authority is of the opinion that it is necessary for any of the purposes of this Order to do so, he may by notice in writing require any director, officer or representative of any takaful operator
{a) to furnish him with any information; or
{b)
to appear before him, in connection with any matter related to any business carried on by that takaful operator in or outside Brunei Darussalam in the manner and to the extent, and in the case of an appearance before him, at the time and place, specified in the notice.
Any person who fails to comply with any requirement under subsections (1), (2) or (3) 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 $5,000 for every day during which the offence continues after conviction.
There shall be no change in the control of a takaful operator incorporated in Brunei Darussalam unless the Authority has given approval in writing for such change.
Takaful intermediaries
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;
Takaful agents to act only for takaful operators entitled to carry on business in Brunei
Darussalam.
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
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;