Labuan Financial Services and Securities Act 2010 · Updated to 15 Oct 2022 · Part III
Section 30
Feedback & supportWhere an information memorandum or such other offering document is lodged by the private fund with the Authority under section 29, neither the Authority nor any of its officers or employees shall be liable for any loss or damage suffered by any person or persons by reason of any error, misstatement or omission of whatever nature appearing therein.
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;
Subdivision 2
PUBLIC FUNDS