Section 85
Segregation of takaful fund
of Labuan Islamic Financial Services and Securities Act 2010
The assets of any fund established for any family takaful business and any general takaful business under this Act shall be kept separate from all other assets of the Labuan takaful operator, and shall not include any amounts on account of goodwill, the benefit of development expenditure or similar items not realizable apart from the business or part of the business of such Labuan takaful operator.
(2)
For the purposes of this section, the assets from time to time representing any Labuan retakaful operator’s deposit held by the Labuan takaful operator to meet liabilities of any fund established for any family takaful business or any general takaful business shall be treated with the agreement of the Labuan retakaful operator as assets of the fund.