Labuan Financial Services Authority Act 1996 · Updated to 1 Dec 2011 · Part IV · General
36I. Special audit
Official textFrom Laws of Malaysia Online, unchanged
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 institution
“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 Authority 61
Labuan financial services
“Labuan financial services” means any service provided by any person under any of the laws specified in the Schedule;
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.
The special auditor appointed under this section shall submit his report to the Authority within such time as the Authority may determine.
Authority
“Authority” means the Labuan Financial Services Authority established under section 3;
A special auditor under this section shall include an
“approved auditor” defined under section 2 of the Labuan Companies
Labuan
“Labuan” means the Federal Territory of Labuan; Labuan Financial Services Authority 9
Act 1990.
Terms defined in s 2
Authority
Defined · s 2“Authority” means the Labuan Financial Services Authority established under section 3;
Labuan
Defined · s 2“Labuan” means the Federal Territory of Labuan; Labuan Financial Services Authority 9
Labuan financial institution
Defined · s 2“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
Defined · s 2“Labuan financial services” means any service provided by any person under any of the laws specified in the Schedule;