Islamic Financial Services Act 2013 · s 34

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s 34Notice of cessation as member of Shariah committee

(1)

Where a person ceases to be a member of a Shariah committee of an institution pursuant to—

(a)

paragraph 33(1)(a), (b) or (d); or

(b)

paragraph 33(1)(c) if such disqualification is within the institution’s knowledge, the institution shall notify the Bank in writing of that fact and the reasons of such cessation immediately or in any case not later than fourteen days from the date of such cessation.

(2)

Where a person ceases to be a member of a Shariah committee under subsection 33(1) or is removed by the Bank under subsection 33(4), the institution shall appoint a new member of its

Shariah committee in accordance with section 31 within such period as may be specified by the Bank.