Section 75
Terms and conditions of registration as a Labuan private trust company
of Labuan Financial Services and Securities Act 2010
A Labuan private trust company shall, at all times, ensure that—
(a)
it complies with paragraph 74(2)(a); and
(b)
its agent is a Labuan trust company licensed under this
Part.
(2)
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).
(3)
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