Labuan Financial Services Authority Act 1996 · s 36I

Suggest a correction

Tell us what is wrong in this text. We check every suggestion against the official version before we change anything.

What is wrong?Wrong or mistyped wordsWrong structure or numberingWrong title or detailsText that appears twice

What should change, and whyUp to 2,000 characters.The text as it should read (optional)Edit the text above. Up to 20,000 characters.Where you checked it (optional)A link to the official version, if you have one.

The text as we hold it

Open the official text

s 36ISpecial audit

(1)

Where there is a failure on the part of any Labuan financial institution or any person to comply with the provisions of this Act or the laws specified in the Schedule, the Authority may issue a

Labuan Financial Services Authority 61

direction under section 4B to compel such Labuan financial institution to appoint a special auditor to carry out a special audit of the Labuan financial institution.

(2)

The special auditor appointed under this section shall submit his report to the Authority within such time as the Authority may determine.

(3)

A special auditor under this section shall include an

“approved auditor” defined under section 2 of the Labuan Companies

Act 1990.