Section 6

Where a company holds itself out to be a takaful operator in respect of family takaful business or general takaful business when it is not registered under this Order in respect of that business, the company shall be guilty of an offence, and every director, manager or officer of the company shall, unless he proves that the holding out by the company was made without his knowledge or consent, be guilty of an offence and shall be liable on conviction to a fine not exceeding $100,000, imprisonment for a term not exceeding 3 years 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.

Incorporating amendments until S 1/2016

(Clean Version) NANI/Amiriah/Fiqah/Karimah as of 8th July 2019

10

BLUV as at 14th January 2016

Use of words “takaful” or “re-takaful”.