Takaful Order, 2008 · As enacted
Section 92
Official textFrom Attorney General's Chambers, unchanged
Any takaful operator which on the commencement of this Order is already permitted under administrative arrangements by the Ministry of Finance to carry on general takaful business or family takaful business, as the case may be, shall be deemed to be registered under section 9(2) for a period of 6 months from such commencement and may within that period carry on the takaful business which was being lawfully carried on by it immediately before the commencement of this Order.
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;
Within the period of 6 months referred to in subsection (1), the takaful operator shall apply for registration in accordance with section 9( 1} in respect of the period after the period referred to in subsection ( 1).
A takaful operator which is deemed by virtue of subsection (1) to be registered under section 9(2) shall no later than 3 months after the date of the commencement of this Order comply with section 5 regarding the requirements for carrying on business as a takaful operator (save the requirement as to registration).
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Terms defined in s 2
family takaful
Defined · s 2"family takaful" means takaful for financial aid and assistance to a participant and his family in case of his accidental death or disablement;
general takaful
Defined · s 2"general takaful" means takaful for financial aid and assistance to a participant in case of loss or damage caused to his property, assets or body due to a casuality or disaster such as fire, flood, accident;
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;