Malaysia legislation
Section 31
of LABUAN ISLAMIC FINANCIAL SERVICES AND SECURITIES ACT 2010
Section 31
(a)
that it expressly reserves the right to accept or retain over-subscriptions; and
(b)
a limit on the amount of the over-subscription that may be accepted or retained.
Labuan Islamic Financial Services and Securities 55
(2)
Subject to any regulations, where a borrowing company specifies in a prospectus relating to a Sukuk issue that it reserves the right to accept or retain over-subscriptions—
(a)
the borrowing company shall not make, authorize or permit any statement or reference as to the asset-backing for the issue to be made or contained in any prospectus relating to the issue, other than a statement or reference to the total assets and the total liabilities of the borrowing company and of its guarantor company, if any; and
(b)
the prospectus shall contain a statement or reference as to what the total assets and total liabilities of the borrowing company would be if over-subscriptions to the limit specified in the prospectus were accepted or retained.
(3)
Any borrowing company who contravenes this section commits an offence and shall, on conviction, be liable to a fine not exceeding ten thousand ringgit.