Malaysia legislation
Section 36
of LABUAN ISLAMIC FINANCIAL SERVICES AND SECURITIES ACT 2010
Section 36
(2)
Subject to subsection (3), no proposed Islamic public fund shall carry on business, arrange or administer its affairs unless it has been granted provisional acceptance under paragraph 38(1)(b).
(3)
A proposed Islamic public fund to which a provisional acceptance has been granted under paragraph 38(1)(b) shall not carry on business, arrange or administer its affairs without the prior written consent of the Authority.
Application by Islamic public fund