Section 27

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Where any person, including a takaful agent or a broker, receives on behalf of an operator a contribution on a takaful certificate of a description for the time being prescribed pursuant to subsection (3), such person shall deposit with, or despatch by post to, the operator the contribution so collected within such period as may be prescribed in relation to certificates of that description.

Any refund of contribution, in relation to a certificate of a description as may be prescribed under subsection (3) which may become due to a participant on account of the cancellation of a certificate or alteration in its terms and conditions or for any other reason shall be paid by the operator directly to the participant and a proper receipt shall be obtained by the operator from the participant and such refund shall under no circumstances be paid or credited to any other person, including a takaful agent or a broker.

Any person who fails to comply with this section shall be guilty of an offence and shall, on conviction, be liable to a fine not exceeding five thousand ringgit.