1. The terms of an insurance company and reinsurance company, wherever stated in these regulations, shall include the Takaful Insurance Company and the Takaful Reinsurance Company. The terms of insurance and reinsurance operations wherever stated in these Regulations shall also include Takaful insurance and Takaful reinsurance unless a special provision is stipulated or unless the context indicates otherwise.

2. The provisions of these regulations shall apply to:

(A) Reinsurance companies established in the State;

(B) Branches of foreign reinsurance companies.

(C) Reinsurance business ceded by an insurance company licensed and registered with the Authority.

(D) Accepted Reinsurance business by a licensed insurance company registered with the Authority.

(E) An insurance or reinsurance pool in which an insurance or reinsurance company licensed and registered with the Authority participate or an underwriting syndicate.

3.Protection and Indemnity Clubs (P& I Clubs) are subject to the rules issued by the competent authorities applicable to them, and to the instructions andRegulations issued by the Insurance Authority.