Malaysia legislation

Section 42

of LABUAN ISLAMIC FINANCIAL SERVICES AND SECURITIES ACT 2010

Section 42

Notwithstanding any other written law to the contrary, any action under subsection 41(2) may not be commenced after—

(a)

one hundred and eighty days from the day on which the aggrieved party first had knowledge of the misrepresentation; or

(b)

one year from the date of the purchase transaction that gave rise to the cause of action, whichever is earlier.

Certificate of compliance

Section 42 — LABUAN ISLAMIC FINANCIAL SERVICES AND SECURITIES ACT 2010