Labuan Financial Services Authority Act 1996 · Updated to 1 Dec 2011 · Part II · The Authority
5. Membership of the Authority
Official textFrom Laws of Malaysia Online, unchanged
The Authority shall consist of the following members who shall be appointed by the Minister:
Authority
“Authority” means the Labuan Financial Services Authority established under section 3;
a Chairman;
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the Director General; and
not less than three and not more than seven other persons, two of whom shall be from the public sector.
The members appointed under paragraph (1)(c) shall be from amongst persons who possess relevant experience in financial, commercial or legal matters.
The Director General shall be the chief executive officer of the Authority and shall be entrusted with the day-to-day administration of the Authority.
Director General
“Director General” means the Director General appointed under section 5;
In the event of the Director General being absent or unable to act due to illness or any other cause, the Chairman shall appoint any member of the Authority to carry out the functions of the Director
General.
Terms defined in s 2
Authority
Defined · s 2“Authority” means the Labuan Financial Services Authority established under section 3;
Director General
Defined · s 2“Director General” means the Director General appointed under section 5;
Minister
Defined · s 2“Minister” means the Minister for the time being charged with the responsibility for finance;