Malaysia legislation

Section 41

of LABUAN FINANCIAL SERVICES AND SECURITIES ACT 2010

Section 41

(2)

Notwithstanding subsection (1), the following persons may carry on business as a fund administrator of a public fund:

(a)

a bank licensee;

(b)

a Labuan trust company;

(c)

a securities licensee under Part IV;

(d)

a management company licensed under Part VIII; or

(e)

a person who is and continues to be a qualified and authorized fund administrator of mutual funds under the laws of any recognized country or jurisdiction and has received written permission from the Authority to carry on business as a fund administrator of public funds.

(3)

A fund administrator who is carrying on fund administration activities in relation to a private fund only is not required to be licensed under this Part.

Application for fund manager’s licence