Labuan Financial Services and Securities Act 2010 s 72
Labuan Financial Services and Securities Act 2010 s 72
s 72 Terms and conditions of licence as Labuan managed trust company
(1) Prior to commencing business as a Labuan managed trust company, every Labuan managed trust company shall appoint a Labuan trust company as its Labuan managed trust manager to give effect to its trust company business.
(2) Every Labuan managed trust company shall at all times, ensure that the Labuan trust company is and continues to be licensed as a Labuan trust company under this Act.
(3) For the avoidance of doubt, save for sections 61 and 62 and Division 4 of this Part, all the provisions that apply to a Labuan trust company under this Act shall similarly apply to a Labuan managed trust company.
(4) If, subsequent to its appointment as the Labuan managed trust manager of a Labuan managed trust company, the licence of such managed trust manager is revoked under section 168, the managed trust company shall appoint a new managed trust manager within the period of four weeks following the date on which the licence of the managed trust company is revoked, failing which the licence of the managed trust company shall be automatically revoked by the Authority.
Malay text (authoritative)
Terma dan syarat lesen sebagai syarikat amanah diurus Labuan
(1) Sebelum memulakan perniagaan sebagai suatu syarikat amanah diurus Labuan, tiap-tiap syarikat amanah diurus Labuan hendaklah melantik suatu syarikat amanah Labuan sebagai pengurus amanah diurus Labuan baginya untuk melaksanakan perniagaan syarikat amanahnya.
(2) Tiap-tiap syarikat amanah diurus Labuan hendaklah pada setiap masa memastikan bahawa syarikat amanah Labuan itu masih dan terus dilesenkan sebagai suatu syarikat amanah Labuan di bawah Akta ini.
(3) Untuk mengelakkan keraguan, kecuali bagi seksyen 61 dan 62 dan Penggal 4 Bahagian ini, semua peruntukan yang terpakai bagi suatu syarikat amanah Labuan di bawah Akta ini hendaklah juga terpakai bagi suatu syarikat amanah diurus Labuan.
(4) Jika, selepas pelantikannya sebagai pengurus amanah diurus Labuan bagi suatu syarikat amanah diurus Labuan, lesen pengurus amanah diurus Labuan itu dibatalkan di bawah seksyen 168, syarikat amanah diurus itu hendaklah melantik seorang pengurus amanah diurus yang baru dalam tempoh empat minggu yang berikutan tarikh lesen syarikat amanah diurus Labuan itu dibatalkan, dan jika tidak berbuat demikian lesen syarikat amanah diurus itu hendaklah dibatalkan secara automatik oleh Lembaga.
PENGGAL 4
SYARIKAT AMANAH PERSENDIRIAN LABUAN
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).
