Malaysia legislation
Section 38
of LABUAN ISLAMIC FINANCIAL SERVICES AND SECURITIES ACT 2010
Section 38
(a)
registration of an Islamic public fund; or
(b)
provisional acceptance of a proposed Islamic public fund.
(2)
A grant under subsection (1) may be made subject to any terms, conditions, limitations or restrictions by the Authority.
(3)
A provisional acceptance granted under paragraph (1)(b)
shall be valid and effective for a period not exceeding six months from the date on which it is granted.
(4)
A provisional acceptance may be renewed for a period not exceeding three months upon application being made to the
Authority and accompanied by such documents or information as the Authority may require.
(5)
Notwithstanding the grant of a provisional acceptance under paragraph (1)(b) to a proposed Islamic public fund, the Authority may grant registration to such a proposed Islamic public fund as an Islamic public fund under paragraph (1)(a).
Act 705
Registration procedure