Section 58
Power to grant or refuse application for licence
of Labuan Islamic Financial Services and Securities Act 2010
ActIn forceProvision 58 of 161
Section 58
(1)
Upon receiving an application under section 57, the
Authority may grant or refuse the application.
(2)
The grant of a licence under this Part may be made subject to any terms, conditions, limitations or restrictions.
(3)
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.