Section 75

it complies with paragraph 74(2)(a); and

its agent is a Labuan trust company licensed under this

Part.

Subject to subsection (3), a Labuan private trust company shall not be registered under this Division during any period in which it is in contravention of subsection (1).

If, subsequent to its appointment as the agent of a Labuan private trust company, the licence of the agent is revoked, subsection (2) does not apply and the Labuan private trust company shall continue to be registered for the period of thirty days following the date on which the licence of the agent is revoked.

Labuan Financial Services and Securities 83

Duties of agent of Labuan private trust company