Labuan Financial Services and Securities Act 2010 · Updated to 15 Oct 2022 · Part IX
150. Procuring the acquisition or disposal of securities
Feedback & supportA 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—
person
“person” includes a corporation, partnership, a body of persons, corporate or unincorporated and a corporation sole;
his agent;
his nominee; or
a person who is acting at his direction.
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.
securities
“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unincorporated), government, local government or public authority; *NOTE—The Exchange Control Act 1953 has since been repealed by the Financial Services Act 2013 which comes into operation on 30 June 2013—see sections 271 and 272…
“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.