Is AKTA PERKHIDMATAN KEWANGAN DAN SEKURITI LABUAN (PINDAAN) 2022 still in force?

Yes — AKTA PERKHIDMATAN KEWANGAN DAN SEKURITI LABUAN (PINDAAN) 2022 is currently in force.

When did AKTA PERKHIDMATAN KEWANGAN DAN SEKURITI LABUAN (PINDAAN) 2022 take effect?

AKTA PERKHIDMATAN KEWANGAN DAN SEKURITI LABUAN (PINDAAN) 2022 was first recorded in 2022.

How many sections does AKTA PERKHIDMATAN KEWANGAN DAN SEKURITI LABUAN (PINDAAN) 2022 have?

AKTA PERKHIDMATAN KEWANGAN DAN SEKURITI LABUAN (PINDAAN) 2022 contains 4 sections.

Where can I read the official version of AKTA PERKHIDMATAN KEWANGAN DAN SEKURITI LABUAN (PINDAAN) 2022?

The official text of AKTA PERKHIDMATAN KEWANGAN DAN SEKURITI LABUAN (PINDAAN) 2022 is published at lom.agc.gov.my.

/akn/my/act/amendment_act/2022/A1654

LABUAN FINANCIAL SERVICES AND SECURITIES (AMENDMENT) ACT 2022

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Type: Amendment Act
Status: In force
Enacted: 2022
Sections: 4
Languages: MS · EN

Quick answer

About this amendment act

LABUAN FINANCIAL SERVICES AND SECURITIES (AMENDMENT) ACT 2022 is Malaysia Amendment Act, cited as Amendment Act A1654 2022, currently marked in force and first recorded in 2022.

Opening note

Preamble

An Act to amend the Labuan Financial Services and Securities Act 2010. [ ] ENACTED by the Parliament of Malaysia as follows: Short title and commencement

Section 1

(2)

This Act is deemed to have come into operation on 1 January 2019.

Amendment of section 8

Section 2

The Labuan Financial Services and Securities Act 2010

[Act 704], which is referred to as the “principal Act” in this Act, is amended in section 8—

(a)

in subsection (1), by substituting for the words “(2)”

the words “(3)”; and

(b)

by deleting subsections (2) and (8).

LABUAN FINANCIAL SERVICES AND SECURITIES

(AMENDMENT) ACT 2022

Amendment of section 101

Section 3

Subsection 101(1) of the principal Act is amended by substituting for the definition of “Labuan insurance business” the following definition:

‘ “Labuan insurance business” means insurance and reinsurance business which includes takaful and retakaful business, Labuan captive insurance business and such other insurance business approved by the Authority but does not include any insurance business that is regulated or prohibited under other written law in Malaysia;’.

Section 4

Amendment of section 114

Section 114 of the principal Act is amended by substituting for subsection (3) the following subsection:

“(3) A licensed Labuan insurance broker may handle the insurance or reinsurance of domestic insurance business, transacted in the Malaysian currency provided that such activity does not include any activity that is regulated or prohibited under other written law in Malaysia.”.

Common questions

What is AKTA PERKHIDMATAN KEWANGAN DAN SEKURITI LABUAN (PINDAAN) 2022?: LABUAN FINANCIAL SERVICES AND SECURITIES (AMENDMENT) ACT 2022 is Malaysia Amendment Act, cited as Amendment Act A1654 2022, currently marked in force and first recorded in 2022.
Is AKTA PERKHIDMATAN KEWANGAN DAN SEKURITI LABUAN (PINDAAN) 2022 still in force?: Yes — AKTA PERKHIDMATAN KEWANGAN DAN SEKURITI LABUAN (PINDAAN) 2022 is currently in force.
When did AKTA PERKHIDMATAN KEWANGAN DAN SEKURITI LABUAN (PINDAAN) 2022 take effect?: AKTA PERKHIDMATAN KEWANGAN DAN SEKURITI LABUAN (PINDAAN) 2022 was first recorded in 2022.
How many sections does AKTA PERKHIDMATAN KEWANGAN DAN SEKURITI LABUAN (PINDAAN) 2022 have?: AKTA PERKHIDMATAN KEWANGAN DAN SEKURITI LABUAN (PINDAAN) 2022 contains 4 sections.
Where can I read the official version of AKTA PERKHIDMATAN KEWANGAN DAN SEKURITI LABUAN (PINDAAN) 2022?: The official text of AKTA PERKHIDMATAN KEWANGAN DAN SEKURITI LABUAN (PINDAAN) 2022 is published at lom.agc.gov.my.