Labuan Islamic Financial Services and Securities Act 2010 · Updated to 15 Oct 2022 · Chapter 3
38. Power to grant or refuse registration of Islamic public fund
Feedback & supportThe Authority may grant or refuse to grant—
registration of an Islamic public fund; or
provisional acceptance of a proposed Islamic public fund.
A grant under subsection (1) may be made subject to any terms, conditions, limitations or restrictions by the Authority.
A provisional acceptance granted under paragraph (1)(b)
shall be valid and effective for a period not exceeding six months from the date on which it is granted.
A provisional acceptance may be renewed for a period not exceeding three months upon application being made to the
Authority and accompanied by such documents or information as the Authority may require.
Notwithstanding the grant of a provisional acceptance under paragraph (1)(b) to a proposed Islamic public fund, the Authority may grant registration to such a proposed Islamic public fund as an Islamic public fund under paragraph (1)(a).
Islamic public fund
“Islamic public fund” means an Islamic mutual fund other than an Islamic private fund;