Section 35
of International Insurance and Takaful Order, 2002
Section 35
(1)
At least once in each calendar year, every licensee shall give to the Authority written notice of the name of every person who is, to the knowledge of the licensee at the date of the notice, a controller or indirect controller of the licensee.
(2)
In relation to each person named in a notice under subsection (1) as a controller or indirect controller of a licensee, the licensee shall state to the best of its knowledge –
(a)
what percentage of shares of the licensee he holds, either alone or with any associates; and
(b)
what percentage of the voting power at a general meeting of the licensee he is entitled to exercise, or control the exercise of, either alone or with any associate or associates.
Contravention of section 35.