Section 48

Section 85 of the principal Act is amended by substituting for subsection (4) the following subsection:

“(4)  If any of the conditions stipulated in subsections (2)

and (3) is not fulfilled, the amount of the obligatory payment shall be based on the amount that would have been payable as a debt due to the certificate owner or policy owner on the date the takaful certificate or policy ceased to be in force as a refund of a portion of the takaful contribution or premium that is commensurate with the remaining period of the takaful certificate or policy.”.

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