13. Prudential returns
13.1. Obligation to prepare prudential returns
(1) A Takaful Operator must prepare and submit to the AFSA the annual, biannual and quarterly prudential returns set out in Schedule 6 (Prudential returns by Takaful Operators).
(2) The AFSA may require the Takaful Operator to prepare additional prudential returns, by giving a notice to that effect to the Takaful Operator.
13.2. Deadlines for provision of returns
(1) A Takaful Operator must give an annual prudential return to the AFSA within 4 months after the day the relevant financial year of the Takaful Operator ends.
(2) A Takaful Operator must give a biannual prudential return to the AFSA within 1 month after the day the relevant standard biannual period ends.
(3) A Takaful Operator must give a quarterly prudential return to the AFSA within 1 month after the day the relevant standard quarter ends.
(4) In this rule:
- (a) standard biannual period means the 6-month period ending on 30 June or 31 December; and
- (b) standard quarter means the 3-month period ending on 31 March, 30 June, 30 September or 31 December.
13.3. External audit opinion to accompany
When a Takaful Operator submits its annual prudential returns to the AFSA, it must also provide an external audit opinion to accompany those prudential returns.