Labuan Financial Services and Securities Act 2010 · Updated to 15 Oct 2022 · Part XI · Appeals
182. Application of *Exchange Control Act 1953
Feedback & supportSubject to subsections (2) and (3), nothing in this Act shall affect the provisions of the *Exchange Control Act 1953 and in the application of any provision of this Act to a person or bank licensee, such provision shall apply subject to the provisions of the *Exchange Control Act 1953.
exchange
“exchange” includes a body corporate established as a securities exchange under section 134 and the Labuan International Financial Exchange that was established by the Minister under section 30 of the *Labuan Offshore Securities Industry Act 1998 that was approved and recognized immediately before the effective date;
Where there is conflict or inconsistency between the provisions of this Act and the *Exchange Control Act 1953, the provisions of the *Exchange Control Act 1953 shall prevail.
The provisions of the *Exchange Control Act 1953 shall not apply in respect of any transactions exempted under that Act and any guidelines, circulars or notices issued thereunder.