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The Malaysian Parliament passed the Civil Aviation Commission Act (“Act”) on the 9th of April 2015 and is expected to enter into force soon.
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Like any commercial agreements, disputes may arise from Islamic finance agreements and special attention be given to agreements that have cross-border transactions elements.
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The growth of shipping in Malaysia is supported by parallel development in dispute resolution facilities such as the establishment of the Admiralty Court and the revival of the Kuala Lumpur Regional Centre for Arbitration.
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On 30 June 2013, the Financial Services Act 2013 and the Islamic Financial Services Act 2013 (collectively referred to as “Acts”) have come into effect by substituting and repealing the Banking and Financial Institutions Act 1989, the Insurance Act 1996, the Payment Systems Act 2003, the Exchange Control Act 1953, the Islamic Banking Act 1983 and the Takaful Act 1984.
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In the context of legal compliance, the process entails the steps an organisation takes to ensure that it observes and complies with the external statutory laws and regulations.
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Malaysian’s land law is based on the Torrens System, which was originated from South Australia and developed by Sir Robert Torrens. This system is administered by the State Land Offices in Malaysia to ensure an indefeasible title to those included in the register.
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The National Pharmaceutical Control Bureau of the Ministry of Health, Malaysia has issued the Drug Registration Document Guidance Document (DGRD) which serves as a reference for the drug registration process of medicinal products.