In forceUpdated to 15 Oct 2022Read it in Bahasa Malaysia

Contents

Labuan Financial Services and Securities Act 2010 · Updated to 15 Oct 2022 · Part XI · Appeals

Section 184

Feedback & support

(1)

In addition to, and not in derogation of, the provisions of this Act—

(a)

the Labuan Companies Act 1990 shall apply to—

(i)

a bank licensee that is not a Malaysian bank licensee; and

(ii)

an insurance licensee that is a Labuan company or a foreign Labuan company; and

(b)

the *Companies Act 1965 shall apply to—

(i)

a Malaysian bank licensee or a licensed entity licensed under section 90 which is an office of a Malaysian bank established under that Act; and

(ii)

an insurance licensee which is a branch of a

Malaysian insurer.

(2)

Where there is any conflict or inconsistency between the provisions of this Act and the other Acts referred to in subsection (1) in their application to the respective licensed entities, the provisions of this Act shall prevail.

(3)

Where any difficulty or doubt arises in the application of subsection (1) in relation to any particular licensed entity or any particular matter or circumstance or in general, the Authority may resolve the same by issuing a direction on the issue.

Terms defined in this Act

Authority
Defined · s 2
“Authority” means the Labuan Financial Services Authority established under section 3 of the Labuan Financial Services Authority Act 1996;
Open s 2
bank licensee
Defined · s 2
“bank licensee” means a Labuan bank or a Labuan investment bank licensed under Part VI;
Open s 2
established
Defined · s 2
“established”, in relation to a person specified in the first column of the First Schedule, has the meaning set out in the third column of the First Schedule as against such person;
Open s 2
foreign Labuan company
Defined · s 2
“foreign Labuan company” means a foreign company registered under Part VIII of the Labuan Companies Act 1990;
Open s 2
insurance licensee
Defined · s 2
“insurance licensee” means a person licensed under Part VII;
Open s 2
Labuan
Defined · s 2
“Labuan” means the Federal Territory of Labuan;
Open s 2
Labuan company
Defined · s 2
“Labuan company” has the meaning assigned to it in the Labuan Companies Act 1990;
Open s 2
licensed entity
Defined · s 2
“licensed entity” means a person licensed or registered to carry on any activity under any Part;
Open s 2
Malaysian bank
Defined · s 86
“Malaysian bank” means a licensed as bank defined in the **Banking and Financial Institutions Act 1989 or an Islamic bank as defined in the ***Islamic Banking Act 1983; *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…
Open s 86
Malaysian bank licensee
Defined · s 2
“Malaysian bank licensee” means a bank licensee which is an office or a subsidiary of a Malaysian bank;
Open s 2
Malaysian insurer
Defined · s 101
“Malaysian insurer” means an insurer which is licensed under the *Insurance Act 1996 or the **Takaful Act 1984;
Open s 101
office
Defined · s 2
“office” includes the principal place of business, a branch, an agency, a mobile place of business, a place of business set up and maintained for a limited period only, an electronic terminal and any other place of business;
Open s 2

Report

Read on from s 185

Section 184

Terms defined in this Act

Schedules