Section 11
Reference by court or arbitrator in making decision
of Labuan Islamic Financial Services and Securities Act 2010
Where in any proceedings relating to any business regulated or supervised by the Authority before any court or arbitrator in
Malaysia, any question arises concerning a Syariah matter, the court or the arbitrator, as the case may be, may—
(a)
take into consideration any guideline, direction, advisory, notice or circular issued by the Authority pursuant to its powers under the Labuan Financial Services Authority
Act 1996; or
(b)
refer such question to the Syariah Supervisory Council for its ruling.
Act 705
(2)
Any ruling made by the Syariah Supervisory Council pursuant to a reference made under paragraph (1)(b) shall, for the purposes of proceedings in respect of which the reference was made, be taken into consideration by the court or arbitrator in arriving at a decision.