Malaysia legislation
Section 41
Section 41
(2)
Notwithstanding subsection (1), the following persons may carry on business as a fund administrator of a public fund:
(a)
a bank licensee;
(b)
a Labuan trust company;
(c)
a securities licensee under Part IV;
(d)
a management company licensed under Part VIII; or
(e)
a person who is and continues to be a qualified and authorized fund administrator of mutual funds under the laws of any recognized country or jurisdiction and has received written permission from the Authority to carry on business as a fund administrator of public funds.
(3)
A fund administrator who is carrying on fund administration activities in relation to a private fund only is not required to be licensed under this Part.
Application for fund manager’s licence