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

Part III · Finance

32. Levies

(1)

An Labuan financial institution shall be liable, in the case of any Labuan financial service provided by it, to pay a levy to the

Authority.

Labuan Financial Services Authority 51

(2)

For the purpose of subsection (1), the Minister may, by order published in the Gazette, specify such rates of levy as is necessary to meet the administrative and operating costs of the Authority; and different rates may be specified in respect of different classes of

Labuan financial services.

(3)

The amount of any levy payable under this section shall be recoverable as a civil debt due to the Authority.

(4)

The Minister may make regulations providing for—

(a)

the payment of levies under this section;

(b)

subject to the provisions relating to secrecy under any written law relating to offshore financial institutions, the keeping, examination and audit of the accounts of the

Labuan financial institutions relating to the collection of such levies.

Report

Read on from s 32A

Part IV

General

Read on from Part IV

Schedules