14.2.1. Captive Takaful Operator may be a Protected Cell Company

(1) An Authorised Firm which is a Protected Cell Company incorporated under the Companies Regulations may apply to the AFSA for a Licence to conduct Captive Takaful Business.

(2) A Protected Cell Company may not otherwise carry on Takaful Business.

14.2.2. Captive Takaful Operators that are PCCs not to create cells without consent

A Captive Takaful Operator that is a Protected Cell Company must not create a Cell without the written consent of the AFSA.

14.2.3 Captive Takaful Operators that are PCCs to conduct Captive Takaful Business only through cells

A Captive Takaful Operator that is a Protected Cell Company must ensure that, when it conducts Captive Takaful Business, each Takaful Contract is attributable to a particular Cell of the Captive Takaful Operator.

14.2.4 Captive Takaful Operators that are PCCs not to conduct Captive General and Family Takaful Business through same Cell

A Captive Takaful Operator that is a Protected Cell Company must not conduct both Captive General Takaful Business and Captive Family Takaful Business through the same Cell.