Labuan Islamic Financial Services and Securities Act 2010 · Updated to 15 Oct 2022 · Part XI · Islamic Self-Regulatory Organizations
120. Protection for an Islamic self-regulatory organization
Feedback & supportAn Islamic self-regulatory organization, the officer or employee of an Islamic self-regulatory organization or a member of a committee of an Islamic self-regulatory organization shall not be liable for any loss sustained by or damage caused to any person as a result of anything done or omitted by them in the performance, in good faith, of their functions and duties in connection with the regulatory or supervisory functions of the
Islamic self-regulatory organization
“Islamic self-regulatory organization” means a self-regulatory organization established under Part XI expressly with a view that the aims and operations of such self-regulatory organization are in compliance with Syariah principles, whose object is to regulate the operations of its members or of the users of its services, their standards or practice and business conduct in order to better protect investors and consumer of securities or related services and includes such other organizations as may be declared or recognized as such by the Authority;
Islamic self-regulatory organization, including those delegated to it by the Authority.