Labuan Islamic Financial Services and Securities Act 2010 s 130
s 130 Establishment of internal Shariah advisory board for Islamic securities licensees and fund manager
(1) Each Islamic securities licensee and, fund manager regulated under Part IV, shall appoint qualified persons to their respective internal Shariah advisory board, and such Islamic securities licensee and fund manager regulated under Part IV shall notify the Authority in writing of such appointment.
(2) Notwithstanding the appointment under subsection (1), the Authority shall reserve the power at any time subsequent to such appointment to require any Islamic securities licensee or, fund manager regulated under Part IV, by way of notification in writing to such Islamic securities licensee or fund manager, to replace any member of the internal Shariah advisory board of such Islamic securities licensee or fund manager with another qualified person to the satisfaction of the Authority.
Malay text (authoritative)
Penubuhan lembaga penasihat Shariah dalaman bagi pemegang lesen sekuriti Islam dan pengurus dana
(1) Setiap pemegang lesen sekuriti Islam dan, pengurus dana yang dikawal selia di bawah Bahagian IV, hendaklah melantik orang yang berkelayakan untuk menganggotai lembaga penasihat Shariah dalaman mereka masing-masing, dan hendaklah memberitahu Lembaga secara bertulis mengenai pelantikan itu.
(2) Walau apa pun pelantikan di bawah subseksyen (1), Lembaga hendaklah mempunyai kuasa pada bila-bila masa selepas pelantikan itu untuk menghendaki mana-mana pemegang lesen sekuriti Islam atau, pengurus dana yang dikawal selia di bawah Bahagian IV, melalui pemberitahuan secara bertulis kepada pemegang lesen sekuriti Islam atau pengurus dana itu, untuk menggantikan manamana anggota lembaga penasihat Shariah dalaman pemegang lesen sekuriti Islam atau pengurus dana dengan seorang lain yang layak yang memuaskan hati Lembaga.
Read this section in the full act → · Open Part XII →
Find Act 705 on lom.agc.gov.my ↗
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).
