Section 16

There shall be paid into a takaful fund all receipts of the operator properly attributable to the business to which the fund relates (including the income of the fund), and the assets comprised in the fund shall be applicable only to meet such part of the operator's liabilities and expenses as is properly so attributable.

In the case of a fund established in respect of family solidarity business, no part of the fund shall be allocated by way of takaful benefits to participants, except with the approval of a qualified actuary and out of a surplus of assets over liabilities as shown on the last statutory valuation of the fund and on the making of any such allocation that surplus shall be treated for purposes of this section as reduced by the amount allocated.

In a winding up assets comprised in the deposit made by an operator under this Act in respect of either class of business shall be treated as assets of the takaful fund established by the operator in respect of business of that class, and subsection (2) shall apply to those assets accordingly.

A takaful fund established by an operator for any class of business shall, notwithstanding that the operator at any time ceases to carry on that class of business in Malaysia continue to be maintained by the operator so long as the operator is required by this Act to maintain the Register for certificates belonging to that class.