287. Licensed takaful operator which is a private company to convert to public company

A registered takaful operator under the repealed

Takaful Act 1984 which is a private company and is deemed to be a

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licensed takaful operator under paragraph 284(1)(b), shall be converted into a public company in accordance with the

*Companies Act 1965 within twelve months from the appointed date or such longer period as may be specified by the Minister, on the recommendation of the Bank, by notice in writing to the licensed takaful operator upon its written application before the expiry of the twelve months.