In forceUpdated to 15 Oct 2022Read it in Bahasa Malaysia

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Labuan Financial Services and Securities Act 2010 · Updated to 15 Oct 2022 · Part IX

142. Persons not deemed to be carrying on business in Malaysia

No person shall be deemed to be engaging in or carrying on a trade or business in Malaysia or with residents of Malaysia for the purpose of any written law by reason only of the fact that—

(a)

securities of such person are listed on a securities market operated by an exchange established under section 134;

(b)

such person is a trading agent or listing sponsor and that transactions are effected by it or on its behalf through the facilities of such exchange; or

(c)

such person undertakes activities in Labuan incidental to the proper conduct of the activities referred to in paragraphs (a) and (b).

Terms defined in this Act

established
Defined · s 2
“established”, in relation to a person specified in the first column of the First Schedule, has the meaning set out in the third column of the First Schedule as against such person;
Open s 2
exchange
Defined · s 133
“exchange” includes a body corporate established as a securities exchange under section 134 and the Labuan International Financial Exchange that was established by the Minister under section 30 of the *Labuan Offshore Securities Industry Act 1998 that was approved and recognized immediately before the effective date;
Open s 133
Labuan
Defined · s 2
“Labuan” means the Federal Territory of Labuan;
Open s 2
listing sponsor
Defined · s 133
“listing sponsor” means a person licensed by an exchange established pursuant to this Part, pursuant to its rules to carry on functions as a listing sponsor;
Open s 133
person
Defined · s 2
“person” includes a corporation, partnership, a body of persons, corporate or unincorporated and a corporation sole;
Open s 2
securities
Defined · s 2
“securities” means any investments commonly known or capable of being described as securities, and includes— (a) shares, debentures, funds, units, interests in a limited partnership or limited liability partnership or unit trust or foundation or protected cell company or corporation; (b) debentures, bonds or notes of or issued by any body (incorporated or unincorporated), government, local government or public authority; *NOTE—The Exchange Control Act 1953 has since been repealed by the Financial Services Act 2013 which comes into operation on 30 June 2013—see sections 271 and 272…
Open s 2
securities market
Defined · s 133
“securities market” means a stock market or a place at which, or a facility by means of which— (a) offers to sell, purchase or exchange securities are regularly made or accepted; (b) offers or invitations that are intended, or may reasonably be expected, to result, whether directly or indirectly, in the making or acceptance of offers to sell, purchase or exchange securities, are regularly made; or (c) information concerning the prices at which or the consideration for which particular persons or classes of persons propose to sell, purchase or exchange, or may reasonably be expected to sell, purchase or exchange, securities is regularly provided;
Open s 133
trading agent
Defined · s 133
“trading agent” means a person licensed and authorized to engage in the business of dealing in securities pursuant to the rules of the exchange established pursuant to this Part. *NOTE—The Labuan Offshore Securities Industries Act 1998 has since been repealed by the Labuan Financial Services and Securities Act 2010 which comes into operation on 11 February 2010—see section 201…
Open s 133

Report

Read on from s 143

Part X

Self-Regulatory Organizations

Read on from Part X

Part XI

Appeals

Read on from Part XI