Section 64

Subject to subsection (3), where a takaful operator is registered under this Order in respect of either class of takaful business, he shall, until he ceases to be so registered, notify the Authority in writing of any change affecting his registration particulars within 3 months of such change taking place.

Where the change results in the amendment of any document or the replacement of any document by a new document, the takaful operator shall furnish the Authority with a copy of the document showing the amendment or, as the case may be, with a copy of the new document.

This section shall have effect subject to any prescribed exceptions, and the

Authority may in any particular case dispense (either unconditionally or subject to any conditions) with the furnishing of information under this section about any change.

In this section, “registration particulars” means the documents and information furnished by the takaful operator to comply with section 9(1) when applying to be registered in respect of the class of business in question or furnished by the takaful operator to comply with this section in respect thereof.

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 $20,000.

Incorporating amendments until S 1/2016

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

60

BLUV as at 14th January 2016

Inspections and investigations

Inspections and investigations of affairs of takaful operators.