94. Maintenance of capital adequacy ratio

Terms defined in this Act

• Authority

  Authority

  Defined · s 2

  “Authority” means the Labuan Financial Services Authority established under section 3 of the Labuan Financial Services Authority Act 1996;

  Open s 2
• bank licensee

  bank licensee

  Defined · s 2

  “bank licensee” means a Labuan bank or a Labuan investment bank licensed under Part VI;

  Open s 2
• capital funds

  capital funds

  Defined · s 86

  “capital funds” means paid-up capital and reserves;

  Open s 86
• Labuan banking business

  Labuan banking business

  Defined · s 86

  “Labuan banking business” means— (a) the business of receiving deposits on current account, deposit account, savings account or any other account as may be specified by the Authority; (b) Labuan investment banking business; (c) Labuan financial business; (d) Labuan Islamic banking business; (e) such other business as the Authority, with the approval of the Minister, may specify, in any currency (including ringgit where permitted by the *Exchange Control Act 1953 or such other relevant law in force);

  Open s 86
• Labuan investment banking business

  Labuan investment banking business

  Defined · s 86

  “Labuan investment banking business” means— (a) the business of providing credit facilities; (b) the business of providing consultancy and advisory services relating to corporate and investment matters, including dealing in securities, or making and managing investments on behalf of any person; (c) the business of undertaking foreign exchange transactions, interest rate swaps, dealings in derivative instruments or derivative financial instruments or any other similar risk management activities; (d) Labuan Islamic investment banking business; *NOTE—The Exchange Control Act 1953 has since been repealed by the Financial Services Act 2013 which comes into operation on 30 June 2013—see sections 271 and 272…

  Open s 86