Malaysia legislation
Section 57
of LABUAN ISLAMIC FINANCIAL SERVICES AND SECURITIES ACT 2010
Section 57
Labuan Islamic Financial Services and Securities 71
(2)
An application for a licence shall be—
(a)
made in such form as may be specified by the Authority;
and
(b)
accompanied by—
(i)
an application fee as may be prescribed;
(ii)
particulars of the financial and human resources and administrative facilities available to the applicant for the competent and efficient conduct of its business;
(iii)
a statement on the following:
(aa) the address of the applicant’s place of business and its address for service relating to Labuan;
(bb) the name and address of a person in
Labuan who is authorized to represent the applicant and to accept service on its behalf; and
(cc)
the address of the applicant’s place of business outside Labuan;
Act 705
(iv)
a statement to the effect that the applicant has declared its compliance with the *Anti-Money
Laundering and Anti-Terrorism Financing Act 2001
[Act 613] and shall ensure that it shall update its policies and procedures periodically so as to comply with its requirements; and
(v)
such other information or documents as the
Authority may reasonably require for the purpose of determining the application.
Power to grant or refuse application for licence