Labuan Financial Services and Securities Act 2010 · Updated to 15 Oct 2022 · Part XI · Appeals
177. Examination and inspection of books and documents of licensed entities
Feedback & supportThe Authority may from time to time—
examine and inspect the books or other documents, accounts and transactions of any licensed entity; or
obtain from any licensed entity, require any licensed entity to provide access to the Authority to, or require any licensed entity to furnish, any information or copies of any records, books or other documents relating to the business of such licensed entity being carried on under this Act which, in the opinion of the Authority, are necessary to enable it to ascertain compliance with the provisions of this Act.
The Authority may approve the home supervisory authority of a licensed entity to conduct the activities referred to in paragraphs (1)(a) and (b).
Every director or officer of a licensed entity shall extend his co-operation and assistance to the Authority to facilitate any examination and inspection carried out under paragraph (1)(a).
director
“director”, in relation to a person specified in the first column of the First Schedule, has the meaning set out in the second column of the First Schedule as against such person;