87. Notice of cessation as appointed actuary

Where a person ceases to be an appointed actuary of a licensed takaful operator under section 86, such person shall notify the Bank in writing of that fact and the reasons of such cessation not later than seven days from the date of such cessation.

Where a person ceases to be the appointed actuary of a licensed takaful operator under subsection (1), such takaful operator shall appoint another person as its appointed actuary under subsection 83(1) not later than such period as may be specified by the Bank from the date of the cessation.