Labuan Financial Services and Securities Act 2010 · Updated to 15 Oct 2022 · Part III
28. Notification by private funds
Feedback & supportA private fund shall be entitled to carry on business or arrange or administer its affairs by giving notice in writing to the Authority setting out the details of the scope and nature of its business.
private fund
“private fund” means a mutual fund— (a) whose securities are owned or held by— (i) not more than fifty investors where the first time investment of each of such investors is not less than two hundred and fifty thousand ringgit or such other sum as may be prescribed by the Authority or the equivalent in any foreign currency; or (ii) any number of investors where the first-time investment of each of such investors is not less than five hundred thousand ringgit or such other sum as may be prescribed by the Authority or the equivalent in any foreign currency; or (b) which is designated as a private fund under regulations made under this Act;