Labuan Islamic Financial Services and Securities Act 2010 s 38
Labuan Islamic Financial Services and Securities Act 2010 s 38
s 38 Power to grant or refuse registration of Islamic public fund
(1) The Authority may grant or refuse to grant—
(a) registration of an Islamic public fund; or
(b) provisional acceptance of a proposed Islamic public fund.
(2) A grant under subsection (1) may be made subject to any terms, conditions, limitations or restrictions by the Authority.
(3) A provisional acceptance granted under paragraph (1)(b) shall be valid and effective for a period not exceeding six months from the date on which it is granted.
(4) A provisional acceptance may be renewed for a period not exceeding three months upon application being made to the Authority and accompanied by such documents or information as the Authority may require.
(5) Notwithstanding the grant of a provisional acceptance under paragraph (1)(b) to a proposed Islamic public fund, the Authority may grant registration to such a proposed Islamic public fund as an Islamic public fund under paragraph (1)(a).
Malay text (authoritative)
Kuasa untuk membenarkan atau enggan membenarkan pendaftaran dana awam Islam
(1) L e m b a g a b o l e h m e m b e n a r k a n a t a u e n g g a n membenarkan—
(a) pendaftaran sesuatu dana awam Islam; atau
(b) penerimaan bersyarat sesuatu dana awam Islam yang dicadangkan.
(2) Sesuatu kebenaran di bawah subseksyen (1) boleh dibuat tertakluk kepada apa-apa terma, syarat, batasan atau sekatan oleh Lembaga.
(3) Sesuatu penerimaan bersyarat yang dibenarkan di bawah perenggan (1)(b) hendaklah sah dan berkuat kuasa bagi tempoh tidak melebihi enam bulan dari tarikh ia diberikan.
(4) Suatu penerimaan bersyarat boleh diperbaharui bagi suatu tempoh yang tidak melebihi tiga bulan apabila permohonan dibuat kepada Lembaga dan disertakan dengan apa-apa dokumen atau maklumat sebagaimana yang dikehendaki oleh Lembaga.
(5) Walaupun penerimaan bersyarat di bawah perenggan (1)(b) dibenarkan kepada sesuatu dana awam Islam yang dicadangkan, Lembaga boleh membenarkan pendaftaran dana awam Islam yang dicadangkan itu sebagai suatu dana awam Islam di bawah perenggan (1)(a).
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).
