Section 3

Subsection 76(1) of the principal Act is amended by substituting for the definition of “Labuan takaful business” the following definition:

‘ “Labuan takaful business” means takaful business which includes Labuan captive takaful business, Labuan retakaful business and such other takaful business approved by the Authority but does not include any takaful business that is regulated or prohibited under other written law in Malaysia;’.