Section 57
Registration of adjusters. [S 39/2015]
(1)
No person shall, without being registered by the Authority, act or hold himself out as an adjuster.
(2)
Such person shall not be registered by the Authority unless –
Incorporating amendments until S 1/2016
(Clean Version) NANI/Amiriah/Fiqah/Karimah as of 8th July 2019
51
BLUV as at 14th January 2016
(a)
he is a member of an association of adjusters;
(b)
he has such minimum paid-up share capital as may be prescribed; and
(c)
the Authority has been furnished with such documents and information as may be prescribed or as he may require in any particular case.
(3)
In registering an adjuster, the Authority may impose such conditions as he thinks fit and may at any time add to, vary or revoke such conditions.
(4)
The registration of an adjuster shall be for a period of one year and be renewable every year.
(5)
Adjusters shall pay such registration and annual fees as may be prescribed.
(6)
The Authority shall cause notice of any registration or the revocation of any registration of an adjuster to be published in the Gazette.
(7)
The Authority may revoke the registration of any adjuster if he is satisfied that any of the conditions imposed in relation to the registration has been breached or that it is in the interests of the public for him to do so.
(8)
Nothing in this section shall apply to –
(a)
advocates and solicitors and members of other professions who act or assist in adjusting takaful claims as an incident to the practice of their professions and who do not hold themselves out as adjusters;
(b)
adjusters of maritime losses;
(c)
employees of a takaful operator who, in the course of their employment, act or assist in adjusting takaful claims and who do not hold themselves out as adjusters.
(9)
Every adjuster shall within one month after the end of each quarter of the year submit to the Authority a report in the prescribed form of all losses which were the subject of adjustments effected by him during that quarter.
Incorporating amendments until S 1/2016
(Clean Version) NANI/Amiriah/Fiqah/Karimah as of 8th July 2019
52
BLUV as at 14th January 2016
(10)
Sections 41 to 46 shall apply to adjusters.
(11)
No person who carries on the business of takaful loss adjuster, loss assessor, surveyor or other registered persons providing auxiliary services to the takaful industry or any member of their immediate family, shall hold shares or other interests in a takaful company.
(12)
For the purpose of subsection (11), “member of their immediate family”
includes any wife, husband, father, mother, son and daughter of a loss adjuster, loss assessor, surveyor or other registered persons providing auxiliary services to the takaful industry.
(13)
Any person who contravenes subsection (1) or (2) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $20,000, imprisonment for a term not exceeding one year or both and in the case of a continuing offence, to a further fine not exceeding $800 for every day during which the offence continues after conviction.
(14)
Where a person fails to submit a report as required by subsection (9), he shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $20,000, imprisonment for a term not exceeding one year or both, and in the case of a continuing offence to a further fine not exceeding $2,000 for every day during which the offence continues after conviction.
Examination of persons suspected of acting or holding out as takaful broker, takaful intermediary or adjuster.