Takaful Regulations, 2008 · s 3

Suggest a correction

Tell us what is wrong in this text. We check every suggestion against the official version before we change anything.

What is wrong?Wrong or mistyped wordsWrong structure or numberingWrong title or detailsText that appears twice

What should change, and whyUp to 2,000 characters.The text as it should read (optional)Edit the text above. Up to 20,000 characters.Where you checked it (optional)A link to the official version, if you have one.

The text as we hold it

Open the official text

s 3( 11

A registered takaful operator shall pay to the Authority the following fees-

{a) for registration in respect of family takaful business, $20,000;

{b) for registration in respect of general takaful business, $20,000.

(2)

A registered takaful operator shall pay to the Authority the following annual fees on or before 1st. January-

{a) for carrying on family takaful business, $10,000;

{b) for carrying on general takaful business, $10,000;

{c) for opening a branch office, $3,000;

{d) for opening a counter, $1,000.

(3)

Where a registered takaful operator becomes registered in respect of family takaful business or general takaful business after 1st. January in any year, that takaful operator shall pay to the Authority, in addition to the fee payable under sub-regulation (1), one-twelfth of the fee which will become payable under sub-regulation (2) on or before 1st. January in the following year for each remaining month in that year.

3063

Takaful agent's and annual fees.