29. Private fund to lodge an information memorandum or such other offering document

Terms defined in s 2

• Authority

  Authority

  Defined · s 2

  “Authority” means the Labuan Financial Services Authority established under section 3 of the Labuan Financial Services Authority Act 1996;

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• establishment

  establishment

  Defined · s 2

  “establishment”, in relation to— (a) a company, means incorporation; (b) a statutory body, means coming into existence under the law establishing, appointing or constituting it; (c) a co-operative society, means registration, incorporation or otherwise coming into legal existence as a co-operative society; (d) a partnership, including a limited partnership and a limited liability partnership, means formation; (e) a sole proprietorship, means registration of its business; and (f) any other body, association or group of persons, whether corporate or unincorporated, which requires registration or any other form of recording or recognition under any written law before it can lawfully commence its activities, means registration, recording or recognition under such written law;

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• Labuan

  Labuan

  Defined · s 2

  “Labuan” means the Federal Territory of Labuan;

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• licensed entity

  licensed entity

  Defined · s 2

  “licensed entity” means a person licensed or registered to carry on any activity under any Part;

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• private fund

  private fund

  Defined · s 2

  “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;

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• prospectus

  prospectus

  Defined · s 2

  “prospectus” means any prospectus, notice, circular, advertisement or invitation inviting applications or offers to subscribe for or purchase securities, or offering any securities for subscription or purchase;

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• securities

  securities

  Defined · s 2

  “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…

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