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In forceUpdated to 1 Dec 2011Read it in Bahasa Malaysia
Contents

Act of Parliament

Labuan Financial Services Authority Act 1996

Setting up a financial services authority for Labuan, with its powers

Part I

Preliminary

Official textFrom Laws of Malaysia Online, unchanged

s 1Short title and commencement

This Act may be cited as the Labuan Financial Services Authority

Act 1996 and shall come into force on such date as the Minister may, by notification in the Gazette, appoint; and the Minister may appoint different dates for the coming into force of different provisions of this

Act.

s 2Interpretation

(1)

In this Act, unless the context otherwise requires—

“accounting officer” includes every officer and servant who is charged with the duty of collecting, receiving, or accounting for, or

8 Laws of Malaysia ACT 545

who in fact collects, receives or accounts for, any money of the Fund, or who is charged with the receipt, custody or disposal of, or the accounting for, any store and property of the Authority or who in fact receives, holds or disposes of such store and property;

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

“Bank” means the Central Bank of Malaysia established under the

Central Bank of Malaysia Act 1958 [Act 519];

“Chairman” means the Chairman appointed under section 5;

“committee” means any committee established by the Authority under subsection 15(1);

“corporation” means any body corporate formed or incorporated or existing within Malaysia or outside Malaysia and includes any foreign Labuan company as defined in the Labuan Companies Act 1990 [Act 441] but does not include—

(a)

any corporation sole;

(b)

any trade union registered under any written law; and

(c)

any society registered under any written law relating to co-operative societies;

“dependant”, in relation to an officer or servant of the Authority, means the spouse, parent, children, including adopted children or step-children, or such other person as may be specified by the

Authority with the consent of the Minister from time to time by notice published in the Gazette;

“Director General” means the Director General appointed under section 5;

“Fund” means the Fund established under subsection 29(1);

“Labuan” means the Federal Territory of Labuan;

Labuan Financial Services Authority 9

“Labuan financial institution” means any person—

(a)

providing Labuan financial services; or

(b)

incorporated, registered or established under the laws specified in the Schedule;

“Labuan financial services” means any service provided by any person under any of the laws specified in the Schedule;

“Minister” means the Minister for the time being charged with the responsibility for finance;

“Registrar” means the Registrar of Companies under the

Companies Act 1965 [Act 125], and includes any Regional Registrar,

Deputy Registrar or Assistant Registrar of Companies.

(2)

(Deleted by Act A1365).

Part II

The Authority

Read on from Part II

Part III

Finance

Read on from Part III

Part IV

General

Read on from Part IV

Schedules