2 Oct 2020
Nabors Drilling (Labuan) Corporation Lembaga Perkhidmatan Kewangan Labuan
- Citation
- 01(i)-25-09/2019 (S) (Mahkamah Persekutuan)
- Court
- i
- Case number
- 01(i)-25-09/2019 (S) (Mahkamah Persekutuan)
Paragraph 8.2 of the 2013 Guidelines is intra vires the respondent's statutory powers under section 4A and the Financial Services and Securities Act and Regulations (including section 189); the specific regulatory regime and Regulations for leasing transactions override the general provision in section 7(6) of the Labuan Companies Act; the respondent was entitled to require prior approval and collect the prescribed fee; the appellant's delay and acceptance of non‑retrospective approval and payment barred its challenge, so the appeal fails.