Takaful Order, 2008 · As enacted
72. Documents to be filed when scheme confirmed
Official textFrom Attorney General's Chambers, unchanged
Where by a scheme under section 70, takaful business of one takaful operator is transferred to another, the transferee shall, within one month after the scheme takes effect, lodge with the Authority-
takaful business
"takaful business" includes the business of takaful whose aims and operations are in accordance with Hukum Syara';
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statements of the assets and liabilities of each takaful operator concerned as at the time immediately before the transfer, signed on behalf of the takaful operator and, in the case of the transferor, indicating whether the transfer is of the whole of the transferor's business and, if not, the extent to which the transferor's assets and liabilities relate to the business transferred;
a copy of the scheme as confirmed by the High Court, and a certified copy of the order of the High Court confirming the scheme;
copies of any actuarial or other reports upon which the scheme was founded (being reports made since a copy of the scheme was lodged under section 71 ( 1) J; and
a statutory declaration made by the chairman of the board of directors of the transferee or by its principal officer in Brunei Darussalam, fully setting forth every payment made or to be made to any person on account of the transfer, and stating that, to the best of his belief, no other payment beyond those so set forth has been, or is to be made on account thereof by or with the knowledge of any takaful operator concerned. In this paragraph, the references to the making of a payment include references to the transfer of property or rights of any description.
On the confirmation of a scheme under section 71, each of the takaful operators concerned shall file a copy of the scheme with the Registrar of
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;
Companies.
PARTV
GENERAL
Administration and enforcement
Exemption.
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;
principal officer
Defined · s 2"principal officer" means a person, by whatever designation so called, appointed by a takaful operator and charged with the responsibility of managing the affairs of that takaful operator;
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 business
Defined · s 2"takaful business" includes the business of takaful whose aims and operations are in accordance with Hukum Syara';
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;