130. Establishment of internal Syariah advisory board for Islamic securities licensees and fund manager

Terms defined in this Act

• Authority

  Authority

  Defined · s 2

  “Authority” means the Labuan Financial Services Authority established under section 3 of the Labuan Financial Services Authority Act 1996;

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• establishment

  establishment

  Defined · s 2

  “establishment”, in relation to— (a) a company, means incorporation; (b) a statutory body, means the coming into existence under the law establishing, appointing or constituting it; (c) co-operative society, means registration, incorporation or otherwise the coming into legal existence as a co-operative society; *NOTE—The Companies Act 1965 has since been repealed by the Companies Act 2016 which comes into operation on 31 January 2017—see subsection 620(1)…

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• fund manager

  fund manager

  Defined · s 2

  “fund manager” means a person who, for valuable consideration, provides management services alone or with investment advice or administrative services in respect of securities for the purposes of investment, including dealing in securities or such other activity as may be specified by the Authority;

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• internal Syariah advisory board

  internal Syariah advisory board

  Defined · s 2

  “internal Syariah advisory board” means the board established under section 130;

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• Islamic securities licensee

  Islamic securities licensee

  Defined · s 55

  “Islamic securities licensee” means a person, who for valuable consideration, provides investment advice or administrative services in respect of securities for the purposes of investment, including dealing in securities or such other activity as may be specified by the Authority, which is in compliance with Syariah principles in Labuan. Islamic securities licensee Islamic securities licensee

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• Labuan

  Labuan

  Defined · s 2

  “Labuan” means the Federal Territory of Labuan;

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