Labuan Islamic Financial Services and Securities Act 2010 · Updated to 15 Oct 2022 · Part V · Licensing of Intermediaries
58. Power to grant or refuse application for licence
Feedback & supportUpon receiving an application under section 57, the
Authority may grant or refuse the application.
The grant of a licence under this Part may be made subject to any terms, conditions, limitations or restrictions.
Except with the written consent of the Authority, no change shall be made in respect of the identity, residence, domicile, ownership or shareholding of the Islamic securities licensee during the period of operation of the licence.
Islamic securities licensee
“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