Notification by Islamic private fund
An Islamic private fund shall be entitled to carry on business, arrange or administer its affairs in Labuan by giving notice in writing to the Authority setting out the details of the scope and nature of its business.
Islamic private fund to lodge an information memorandum or such other offering document
(1) An Islamic private fund shall lodge the information memorandum or such other offering document relating to the Islamic private fund purporting to describe the business and affairs of the Islamic private fund with the Authority. (2) The information memorandum or such other offering document referred to in subsection (1) shall be lodged by an Islamic private fund through any licensed entity which shall be reasonably satisfied that— (a) the information memorandum or such other offering document being lodged refers to an Islamic private fund as defined under this Act; and (b) there is no element of fraud involved in the establishment of the Islamic private fund. (3) An information memorandum or such other offering document lodged by an Islamic private fund shall be deemed to be a prospectus in so far as it relates to the liability of that Islamic private fund for any statement or information that is false or misleading or from which there is a material omission. (4) Upon receipt of the information memorandum or such other offering document under subsection (1), the Authority shall enter the particulars of the same in the registers maintained pursuant to Chapter 6 of this Part.
Exclusion of liability for errors or omission in the information memorandum or such other offering document
Where an information memorandum or such other offering document is lodged by the Islamic private fund with the Authority under section 34, neither the Authority nor any of its officers or employees shall be liable for any loss or damage suffered by any person or persons by reason of any error, mis-statement or omission of whatever nature appearing therein.
Provisions on this page are reproduced verbatim from official open data. See the attribution line.
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).