Labuan Financial Services and Securities Act 2010 · Updated to 15 Oct 2022 · Part XI · Appeals
Section 181
Feedback & supportA licensed entity who carries on or transacts or holds himself out as carrying on or transacting any Islamic banking business, Islamic investment banking business, takaful, retakaful or any other business under this Act which is syariah compliant, shall comply with the provisions of the Labuan Islamic Financial
licensed entity
“licensed entity” means a person licensed or registered to carry on any activity under any Part;
Services and Securities Act 2010 in matters where such syariah compliance are concerned, subject to such modifications as may be made by the Authority pursuant to guidelines.
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unincorporated), government, local government or public authority; *NOTE—The Exchange Control Act 1953 has since been repealed by the Financial Services Act 2013 which comes into operation on 30 June 2013—see sections 271 and 272…
Labuan Financial Services and Securities 175
Where there is any conflict or inconsistency between the provisions of this Act and the Labuan Islamic Financial Services and Securities Act 2010 in matters where syariah compliance are concerned, the provisions of the Labuan Islamic Financial
Services and Securities Act 2010 shall prevail.