Labuan Islamic Financial Services and Securities Act 2010 s 89
Labuan Islamic Financial Services and Securities Act 2010 s 89
s 89 Restriction on business of takaful licensees by Labuan takaful operator
(1) No Labuan takaful operator shall carry on any business activities in Labuan or elsewhere from its office in Labuan other than its Labuan takaful business or business activities in connection with or for the purpose of such Labuan takaful business.
(2) Notwithstanding the definition of “Labuan takaful business” and subsection (1), a Labuan takaful operator may carry on the retakaful of domestic takaful business, including the retakaful of domestic takaful business transacted in ringgit and such other business as may be specified in writing by the Authority.
(3) No Labuan takaful operator shall act on behalf of another Labuan takaful operator as a Labuan takaful manager or Labuan takaful underwriting manager unless such first-mentioned Labuan takaful operator has been granted a takaful licence to carry on business as a Labuan takaful manager or Labuan takaful underwriting manager, as the case may be.
Malay text (authoritative)
Sekatan ke atas perniagaan pemegang lesen takaful oleh pengendali takaful Labuan
(1) Tiada pengendali takaful Labuan boleh menjalankan apa-apa aktiviti perniagaan di Labuan atau di tempat lain dari pejabatnya di Labuan selain perniagaan takaful Labuannya atau aktiviti perniagaan yang berkaitan dengan atau bagi maksud perniagaan takaful Labuan itu.
(2) Walau apa pun takrif “perniagaan takaful Labuan” dan subseksyen (1), seseorang pengendali takaful Labuan boleh menjalankan takaful semula perniagaan takaful domestik, termasuk takaful semula perniagaan takaful domestik yang diurusniagakan dalam ringgit dan apa-apa perniagaan lain sebagaimana yang ditentukan oleh Lembaga.
(3) Tiada pengendali takaful Labuan boleh bertindak bagi pihak seorang pengendali takaful Labuan yang lain sebagai pengurus takaful Labuan atau pengurus pengunderaitan takaful Labuan melainkan jika pengendali takaful Labuan yang mula-mula
disebut itu telah diberikan suatu lesen untuk menjalankan perniagaan sebagai pengurus takaful Labuan atau pengurus pengunderaitan takaful Labuan, mengikut mana-mana yang berkenaan.
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).
