Section 33
ORDERIn forceProvision 33 of 93
Section 33
(1)
No actuary or consulting actuary, as the case may be, shall be appointed by a takaful operator without the prior approval in writing of the Authority.
(2)
A takaful operator shall inform the Authority in writing whenever there is a change in the actuary and such change is subject to the written approval of the Authority.
(3)
Any person who fails to comply with this section shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $10,000.
Regulation of contributions under family takaful certificates.