Section 86
Separate accounts to be kept by Labuan takaful operator
of Labuan Islamic Financial Services and Securities Act 2010
ActIn forceProvision 86 of 161
Section 86
(1)
Every Labuan takaful operator shall keep the accounts in respect of its Labuan takaful business separate from its other accounts.
Act 705
(2)
Every Labuan takaful operator which carries on both family takaful business and general takaful business shall keep the accounts in respect of its family takaful business separate from the accounts in respect of its general takaful business.
(3)
Every Labuan takaful operator which is a branch of a
Malaysian takaful operator shall keep the accounts in respect of its Labuan takaful business separate from the accounts in respect of its domestic takaful business carried on in Labuan.