Malaysia legislation
Section 44
Section 44
(2)
The grant of a licence may be made subject to any terms, conditions, limitations or restrictions.
(3)
Except with the written consent of the Authority no change shall be made in respect of the identity, residence, domicile, ownership or shareholding of the fund manager or fund administrator during the period of operation of the licence.
(4)
The Authority shall not grant—
(a)
a licence to a fund manager of a public fund; or
(b)
a licence to a fund administrator of a public fund, unless it is satisfied that the applicant is a fit and proper person to engage in the business of fund management or fund administration of mutual funds.
Subdivision 2
TRUSTEES OR CUSTODIANS
Eligibility of trustees or custodians of public funds