5. Business in, from or through Labuan

A person licensed to carry on any of the activities under this Act shall carry on such activities only in, from or through

Labuan save and except that a licensed entity may carry on such business in Malaysia outside Labuan as may be permitted by the

Authority from time to time:

Provided that nothing in this section permits any licensed entity from carrying out any regulated activities under the Capital

Markets and Services Act 2007, where such regulated activities are carried out in Malaysia other than Labuan.