ES-2.6.5

Past version: Effective from 01 Jul 2007 to 30 Sep 2007
To view other versions open the versions tab on the right

A takaful firm operating on a basis other than that prescribed by Paragraph CA-8.2.1 at the date these regulations come into force, must (except where section CA-8.2.7 has been implemented) in respect of all takaful contracts written after this date, manage those contracts in accordance with Section CA-8.2.1. Takaful contracts written before this date hereafter referred to as pre-existing contracts, must continue to be managed in accordance with the takaful model or models operated by the takaful firm prior to Paragraph CA-8.2.1 coming into force, until such time as all obligations of the takaful fund or funds under those pre-existing contracts have been discharged in full.

Amended: January 2007