Section 55
of Labuan Financial Services and Securities Act 2010
ActIn forceProvision 55 of 201
Section 55
(1)
No person shall carry on business as a securities licensee unless that person is a Labuan company who has been granted a licence to act as a securities licensee under this section.
(2)
Notwithstanding subsection (1), the following persons may carry on business as a securities licensee:
(a)
a fund manager referred to in subsections 40(1) and (2);
and
(b)
a bank licensee.