Takaful Act 1984 s 23

This legislation has been repealed. Do not cite it as law in force.

Text recovered by OCR from a scanned copy — section numbers and wording may be wrong. Check the official PDF on lom.agc.gov.my before citing.

s 23

(1) with s in res] the oj busine ,T(2) writin tion, re-tak there hem (3) shall bel li and adak bevvurıuy Langkah. - Laugka [Pt. II, S. 21-23] (6) The Director General may appoint any suitable person to assist him in the administration and distribution of the takaful guarantee scheme funds. (7) The moneys in the takaful guarantee scheme funds in so far as they are not for the time being required to be expended for the purposes of this section may be invested in such manner as the Minister may approve and not contrary to the Syariah and all income accruing in respect of such investments shall be credited to the funds. 22. (1) If an operator defaults in complying with Enforcethe provisions of sections 15 to 21, the Director General ment of requiremay by notice in writing require the operator to make ments as good the default. to registers of certificates and (2) If the operator does not make good the default within one month after the notice is given, the Higt funds and payment of Court may on the application of the Director Genera evies bi operators. make such order against the operator or any director or officer of the operator as the High Court thinks fit with a view to making good the default and otherwise securing compliance by the operator with sections 15 to 21. (3) Nothing done under this section shall affect any person's liability for any offence against this Act. 23. (1) An operator shall have arrangements consistent Re-takaful. with sound takaful principles for re-takaful of liabilities in respect of risks undertaken or to be undertaken by the operator in the course of his carrying on takaful business. (2) The Director General may by giving notice in writing require an operator to produce for his inspection, within a period specified in the notice, treaties on re-takaful, such other detailed information pertaining thereto and any such other re-takaful arrangements as he may in the particular case require. (3) A person who fails to comply with subsection (2) shall be guilty of an offence and shall, on conviction, be liable to a fine not exceeding two thousand ringgit, and to a daily fine not exceeding one hundred ringgit. Payment in Malaysian currency of moneys under family certificates. [Pt. II, S. 24-25)

Malay text (authoritative)

kon mei risi! per sec dir se k 1gula an an sa ya Ln :h '- [Bah. II, S. 23-24] 23. (1) Pengendali hendaklab membuat perkiraan yang Takatul konsisten dengan prinsip-prinsip takaful yang baik bagi mentakaful semula liabiliti berkenaan dengan risikorisiko yang disanggupi atau yang akan disanggupi oleb pengendali semasa dia menjalankan perniagaan takaful (2) Ketua Pengarah boleh dengan memberi notis • bertulis menghendaki pengendali mengemukakan untuk pemeriksaannya, dalam tempoh yang dinyatakan dalam notis itu, triti mengenai takaful semula, apa-apa maklumat lanjut lain mengenainya dan apa-apa perkiraan takaful semula lain sebagaimana yang dikehendakinya dalam ikes tertentu. * (3) Seseorang yang tidak mematuhi subseksyen (2) adalah melakukan suatu ikesalahan dan, apabila disabitkan, boleh dikenakan denda tidak melebihi dua ribu ringgit dan denda harian tidak melebihi seratus ringgit.

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Find Act 312 on lom.agc.gov.my ↗

Source: Laws of Malaysia, Attorney General's Chambers of Malaysia (lom.agc.gov.my). Not a copy of the Gazette printed by the Government Printer (Interpretation Acts 1948 and 1967, s 61).

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