Labuan Financial Services Authority Act 1996 · s 15

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15.
Authority may establish committees
(1) The Authority may establish such committees as it considers necessary or expedient to assist it in the performance of its functions under this Act or the laws specified in the Schedule.
(2)
The Authority may appoint any person to be a member of any committee established under subsection (1).
(3)
A committee established under this section may elect any of its members to be chairman and may regulate its own procedure and, in the exercise of its powers under this subsection, such committee shall be subject to and act in accordance with any direction given to the committee by the Authority.
(4)
Meetings of a committee established under this section shall be held at such times and places as the chairman of the committee may, subject to subsection (3), determine.

18                                      Laws of Malaysia                           ACT 545
(5)
A committee may invite any person, for the purpose of advising it on any matter under discussion, to attend any meeting of the committee but the person so invited shall not be entitled to vote at any such meeting.
(6)
Members of a committee or any person invited to attend any meeting of a committee may be paid such allowances and other expenses as the Authority may determine.
(7)
A member of a committee shall hold office for such term as may be specified in his letter of appointment and is eligible for reappointment.
(8)
The Authority may revoke the appointment of any member of a committee without assigning any reason therefor.
(9)
A member of a committee may at any time resign by giving notice in writing to the Chairman of the Authority.

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s 15Authority may establish committees

(1)

The Authority may establish such committees as it considers necessary or expedient to assist it in the performance of its functions under this Act or the laws specified in the Schedule.

(2)

The Authority may appoint any person to be a member of any committee established under subsection (1).

(3)

A committee established under this section may elect any of its members to be chairman and may regulate its own procedure and, in the exercise of its powers under this subsection, such committee shall be subject to and act in accordance with any direction given to the committee by the Authority.

(4)

Meetings of a committee established under this section shall be held at such times and places as the chairman of the committee may, subject to subsection (3), determine.

18 Laws of Malaysia ACT 545

(5)

A committee may invite any person, for the purpose of advising it on any matter under discussion, to attend any meeting of the committee but the person so invited shall not be entitled to vote at any such meeting.

(6)

Members of a committee or any person invited to attend any meeting of a committee may be paid such allowances and other expenses as the Authority may determine.

(7)

A member of a committee shall hold office for such term as may be specified in his letter of appointment and is eligible for reappointment.

(8)

The Authority may revoke the appointment of any member of a committee without assigning any reason therefor.

(9)

A member of a committee may at any time resign by giving notice in writing to the Chairman of the Authority.