Labuan Financial Services and Securities Act 2010 · Updated to 15 Oct 2022 · Part X · Self-Regulatory Organizations
157. Rules of a self-regulatory organization
Feedback & supportA self-regulatory organization may make rules, not inconsistent with this Act, any regulations made under this Act or guidelines issued by the Authority or any other applicable law, with respect to the matters for which it has regulatory or supervisory functions, including such functions as may be delegated to it by the Authority.
rules
“rules”, in relation to an exchange established under Part IX, means the rules governing the conduct of the exchange or its members;
Rules made by the self-regulatory organization under subsection (1), and amendments thereto, shall be of no effect unless approved by the Authority.
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The Authority shall be taken to have granted approval for the purposes of subsection (1) where it has not objected to them within one month after they were submitted to the Authority for such approval.
The rules of a self-regulatory organization may make provision with respect to shareholding and voting rights in the self-regulatory organization in the interests of the members of the self-regulatory organization, the consumers, investors and of the users of their services.