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← Labuan Islamic Financial Services and Securities Act 2010

Labuan Islamic Financial Services and Securities Act 2010 s 68

Labuan Islamic Financial Services and Securities Act 2010 s 68

s 68 Requirement to use, and restriction on use of, the words “Labuan Islamic bank”, etc.

(1) An Islamic bank licensee shall at all times affix or paint, and keep affixed or painted, in a prominent position on the outside of each of its offices and so as to be easily legible, its name, licence number and the words “Labuan Islamic bank” or “Labuan Islamic investment bank”, as the case may be. (2) An Islamic bank licensee shall, in any bill-head, printed form, letter paper, notice, advertisement, or any other document issued from its office and in the course of its business, prominently print its name, licence number and the words “Labuan Islamic bank” or “Labuan Islamic investment bank”, as the case may be. (3) No person, not being an Islamic bank licencee, shall, without the written consent of the Authority, assume or use the words “Labuan Islamic bank”, “Labuan Islamic investment bank” or any derivative of such words in any language capable of being construed as indicating the carrying on of Labuan Islamic banking business or Labuan Islamic investment banking business by such person. (4) Any person who contravenes subsection (3) commits an offence and shall, on conviction, be liable to a fine not exceeding ten million ringgit or to imprisonment for a term not exceeding five years or to both, and in the case of a continuing offence, shall in addition, be liable to a daily fine not exceeding ten thousand ringgit for each day the offence continues to be committed.

Malay text (authoritative)

Kehendak untuk menggunakan, dan sekatan mengenai penggunaan, perkataan “bank Islam Labuan”, dll.

(1) Pemegang lesen bank Islam hendaklah pada setiap masa melekatkan atau mengecat, atau memastikan dilekatkan atau dicatkan, pada suatu tempat yang menonjol di luar setiap pejabatnya dan supaya boleh dibaca dengan mudah, nama, nombor lesennya dan perkataan “bank Islam Labuan” atau “bank pelaburan Islam Labuan”, mengikut mana-mana yang berkenaan. (2) Pemegang lesen bank Islam hendaklah, dalam apa-apa kepala bil, borang bercetak, kertas surat, notis, iklan, atau apaapa dokumen lain yang dikeluarkan daripada pejabatnya dan dalam urusan perniagaannya, dengan secara menonjol mencetak nama, nombor lesennya dan perkataan “bank Islam Labuan” atau “bank pelaburan Islam Labuan”, mengikut mana-mana yang berkenaan. (3) Tiada seorang pun, yang bukan pemegang lesen bank Islam, boleh, tanpa keizinan bertulis Lembaga, mengambil alih atau menggunakan perkataan “bank Islam Labuan” atau “bank pelaburan Islam Labuan” atau apa-apa terbitan perkataan sedemikian dalam apa-apa bahasa yang boleh ditafsirkan sebagai menunjukkan orang itu menjalankan perniagaan perbankan Islam Labuan atau perniagaan perbankan pelaburan Islam Labuan. (4) Mana-mana orang yang melanggar subseksyen (3) melakukan suatu kesalahan dan boleh, apabila disabitkan, didenda tidak melebihi sepuluh juta ringgit atau dipenjarakan selama tempoh tidak melebihi lima tahun atau kedua-duanya, dan dalam hal kesalahan yang berterusan, sebagai tambahan, boleh dikenakan denda harian tidak melebihi sepuluh ribu ringgit bagi setiap hari kesalahan itu berterusan.

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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).

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