Labuan Financial Services Authority Act 1996 · s 29

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s 29The Fund

(1)

There is hereby established, for the purposes of this Act, a fund to be administered and controlled by the Authority.

(2)

The Fund shall consist of—

(a)

such sums as may be provided from time to time for the purposes of this Act by Parliament;

(b)

sums borrowed by the Authority for the purposes of meeting any of its obligations or discharging any of its duties;

(c)

levies payable under section 32;

(d)

fees, costs or other charges imposed by the Authority under this Act or other laws relating to offshore financial services;

(e)

any compound paid under this Act or other laws relating to offshore financial services;

(ea)

all monies collected by the Authority for any administrative penalties under section 36G or under the laws specified in the Schedule; and

(f)

all other sums or property which may in any manner become payable to or vested in the Authority in respect of any matter incidental to its functions and powers.

Expenditure to be charged on the Fund