Labuan Financial Services and Securities Act 2010 · Updated to 15 Oct 2022 · Part V · Labuan Trust Companies
75. Terms and conditions of registration as a Labuan private trust company
Feedback & supportA Labuan private trust company shall, at all times, ensure that—
Labuan private trust company
“Labuan private trust company” means a Labuan company or foreign Labuan company carrying on trust company business for a private trust and registered with the Authority under Division 4 of Part V;
it complies with paragraph 74(2)(a); and
its agent is a Labuan trust company licensed under this
Part.
Subject to subsection (3), a Labuan private trust company shall not be registered under this Division during any period in which it is in contravention of subsection (1).
If, subsequent to its appointment as the agent of a Labuan private trust company, the licence of the agent is revoked, subsection (2) does not apply and the Labuan private trust company shall continue to be registered for the period of thirty days following the date on which the licence of the agent is revoked.
Labuan Financial Services and Securities 83