Section 150
Procuring the acquisition or disposal of securities
of Labuan Financial Services and Securities Act 2010
ActIn forceProvision 149 of 201
Section 150
(1)
A person procures the acquisition or disposal of securities if securities are acquired or disposed of by a person who is, in relation to the acquisition or disposal—
(a)
his agent;
(b)
his nominee; or
(c)
a person who is acting at his direction.
(2)
Subsection (1) is not exhaustive as to the circumstances in which a person may be regarded as procuring an acquisition or disposal of securities by another.
Act 704
(3)
“Acquisition” or “disposal” in relation to securities includes agreeing to acquire or dispose of securities or entering into or terminating a contract which creates the securities, as the case may be.
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