Labuan Financial Services and Securities Act 2010 s 157
Labuan Financial Services and Securities Act 2010 s 157
s 157 Rules of a self-regulatory organisation
(1) A self-regulatory organisation may make rules, not inconsistent with this Act, any regulations made under this Act or guidelines issued by the Authority or any other applicable law, with respect to the matters for which it has regulatory or supervisory functions, including such functions as may be delegated to it by the Authority.
(2) Rules made by the self-regulatory organisation under subsection (1), and amendments thereto, shall be of no effect unless approved by the Authority.
(3) The Authority shall be taken to have granted approval for the purposes of subsection (1) where it has not objected to them within one month after they were submitted to the Authority for such approval.
(4) The rules of a self-regulatory organisation may make provision with respect to shareholding and voting rights in the self-regulatory organisation in the interests of the members of the self-regulatory organisation, the consumers, investors and of the users of their services.
Malay text (authoritative)
Kaedah-kaedah organisasi kawal selia sendiri
(1) Sesuatu organisasi kawal selia sendiri boleh membuat kaedah-kaedah, yang selaras dengan Akta ini, apa-apa peraturan yang dibuat di bawah Akta ini atau garis panduan yang dikeluarkan oleh Lembaga atau apa-apa undang-undang lain yang terpakai, berkenaan dengan perkara yang baginya organisasi kawal selia sendiri itu mempunyai fungsi pengawalseliaan atau penyeliaan, termasuklah fungsi yang diwakilkan kepadanya oleh Lembaga.
(2) Kaedah-kaedah yang dibuat oleh sesuatu organisasi kawal selia sendiri di bawah subseksyen (1), dan pindaan kepadanya, tidak mempunyai kuat kuasa melainkan jika diluluskan oleh Lembaga.
(3) Lembaga hendaklah dikira telah memberikan kelulusan bagi maksud subseksyen (1) jika Lembaga tidak membantah terhadap kaedah-kaedah itu atau pindaan kepadanya dalam tempoh satu bulan selepas kaedah-kaedah atau pindaan itu dikemukakan kepada Lembaga untuk kelulusan.
(4) Kaedah-kaedah sesuatu organisasi kawal selia sendiri boleh membuat peruntukan mengenai pemegangan syer dan hak mengundi dalam organisasi kawal selia sendiri itu demi kepentingan anggota organisasi kawal selia sendiri, pengguna, pelabur dan pengguna perkhidmatan mereka.
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).
