Section 8

Whenever the Authority has reason to suspect or believe that a person is carrying on takaful business without having been registered under this Order, he may call for or inspect the books, accounts and records of that person in order to ascertain whether or not that person has contravened any provision of this Order.

Any person who wilfully refuses to submit such books, accounts and records or to allow the inspection thereof shall be guilty of an offence and liable on conviction to a fine not exceeding $20,000, imprisonment for a term not exceeding one year or both, and in the

Incorporating amendments until S 1/2016

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

11

BLUV as at 14th January 2016

case of a continuing offence to a further fine not exceeding $4,000 for every day during which the offence continues after conviction.

Registration of takaful operators

Registration by Authority.