Labuan Financial Services and Securities Act 2010 · Updated to 15 Oct 2022 · Part IV · Market Intermediaries
57. Power to grant or refuse licence
Feedback & supportUpon receiving an application under section 56, the
Authority may grant or refuse the application.
*NOTE—The Anti-Money Laundering and Anti-Terrorism Financing Act 2001 [Act 613] has been amended and referred as Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 [Act 613] which comes into operation on 1 September 2014—
see section 3 Anti-Money Laundering and Anti-Terrorism Financing (Amendment) Act 2014
[Act A1467] and P.U. (B) 400/2014.
The grant of a licence under this Part may be made subject to any terms, conditions, limitations or restrictions.
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 securities licensee during the period of operation of the licence.
securities licensee
“securities licensee” means a person, who for valuable consideration, provides investment advice or administrative services in respect of securities for the purposes of investment, including dealing in securities or such other activity as may be specified by the Authority. SECURITIES LICENSEE Securities licensee
GRANT OF LICENCE