Section 7
of Labuan Islamic Financial Services and Securities Act 2010
ActIn forceProvision 7 of 161
Section 7
(1)
The Authority may establish a Syariah Supervisory Council which shall be the authority for the ascertainment of Islamic law for the purposes of any business regulated or supervised by the
Authority.
Act 705
(2)
The Authority shall have the power to determine the terms of reference and the functions of the Syariah Supervisory Council.
(3)
The Syariah Supervisory Council may determine its own procedure.