Section 14
Section 14
(1)
When the cancellation of registration becomes effective under section 13 –
(a)
notice of the cancellation shall be published in the Gazette; and
(b)
the takaful operator shall, as from the date of cancellation, cease to carry on in Brunei Darussalam takaful business of the class in respect of which its registration has been cancelled, otherwise than by the collection or receipt of contributions on
Brunei Darussalam certificates belonging to that class effected before the date of cancellation of registration, and section 6 shall not apply to the takaful operator in respect of the collection or receipt of those contributions.
(2)
The provisions of subsection (1)(b) shall not prejudice the enforcement by a participant or person of any right or claim against the takaful operator or by the takaful operator of any right or claim against any participant or person.
Incorporating amendments until S 1/2016
(Clean Version) NANI/Amiriah/Fiqah/Karimah as of 8th July 2019
15
BLUV as at 14th January 2016
Prohibition of investment-linked takaful business or annuity takaful business without approval.