Section 197
Power of the Minister to issue directions
of Labuan Financial Services and Securities Act 2010
ActIn forceProvision 196 of 201
Section 197
(1)
The Minister may, on the written recommendation of the Authority, in the public interest, issue, by notification in the
Gazette, a direction—
(a)
prohibiting the formation of any business or activities, including any class of the business or activities; or
(b)
directing a licensed entity, to cease to carry on its business or part of its business either immediately or within such time as may be specified in the direction.
(2)
A direction made under this section may be revoked or varied by the Minister.
Act 704