Takaful Order, 2008 · As enacted · Part III
58. Examination of persons suspected of acting or holding out as takaful broker, takaful intermediary or adjuster
Official textFrom Attorney General's Chambers, unchanged
When the Authority has reason to suspect or believe that a person is acting or holding himself out as a takaful broker, takaful intermediary or adjuster without being registered under this Order, it may call for or inspect the books, accounts and records of that person in order to ascertain whether or not he has contravened any provision of this Order.
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;
Any person who wilfully refuses to submit his books, accounts and records or to allow the inspection thereof shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $20,000, imprisonment for a term not exceeding one year or both, and in the case of a continuing offence to a further fine not exceeding $2,000 for every day during which the offence continues after conviction.
Terms defined in s 2
adjuster
Defined · s 2"adjuster" means any person who for compensation, fee, commission or salary investigates and negotiates settlement of claims arising under takaful contracts, solely on behalf of either the takaful operator or the participant;
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 broker
Defined · s 2"takaful broker" means any company who, for compensation as an independent contractor, in any manner solicits, negotiates or procures takaful contracts or the renewal or continuance thereof on behalf of a takaful operator other than himself;