Section 3
Administration of the Act
of Labuan Financial Services and Securities Act 2010
The Authority is responsible for the due administration of this Act, subject to the general directions and control of the
Minister.
Act 704
(2)
The Authority may authorize any of its members or officers to perform any of its functions, exercise any of its powers or discharge any of its duties under this Act.
(3)
Subject to such limitations, if any, as may be prescribed, an authorized officer shall perform all the functions, exercise all the powers and discharge all the duties of the Authority as authorized and every function so performed, power so exercised and duty so discharged shall be deemed to have been duly performed, exercised and discharged for the purposes of this Act.
(4)
All courts, judges and persons acting judicially shall take judicial notice of the seal and signature of the Authority.