Labuan Islamic Financial Services and Securities Act 2010 Part X — Labuan islamic limited partnerships and labuan islamic limited liability partnerships

s 111–s 112 · 2 sections

Establishment of Labuan Islamic limited partnership and Labuan Islamic limited liability partnership

s 111

(1) A Labuan Islamic limited partnership and Labuan Islamic limited liability partnership shall be established under this section and in accordance with the Labuan Limited Partnerships and Limited Liability Partnerships Act 2010, whereby the establishment of such partnership is undertaken expressly with a view that its aims and operations shall be in compliance with Shariah principles. (2) Unless otherwise provided, the provisions of the Labuan Limited Partnerships and Limited Liability Partnerships Act 2010 shall apply to any Labuan Islamic limited partnership and Labuan Islamic limited liability partnership.

Object and purpose

s 112

(1) The partnership agreement of a Labuan Islamic limited partnership and a Labuan Islamic limited liability partnership shall not include any object or purpose which are not in compliance with Shariah principles. (2) A Labuan Islamic limited partnership and a Labuan Islamic limited liability partnership shall not carry out any activity which are not in compliance with Shariah principles.

Back to Labuan Islamic Financial Services and Securities Act 2010 — full text

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Source: Laws of Malaysia, Attorney General's Chambers of Malaysia (lom.agc.gov.my). Not a copy of the Gazette printed by the Government Printer (Interpretation Acts 1948 and 1967, s 61).

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