set_time_limit() has been disabled for security reasons

I need to set set_time_limit(0); in my PHP script but I get

Warning: set_time_limit() has been disabled for security reasons

I already tried increasing max_execution_time property in my php.ini with no effect. I’m running WAMP 2.4 with Apache 2.4.4 and PHP 5.4.12.

EDIT: I’m running it on my localhost, not shared hosting

Answer

OK looks like I was just stupid… I had .htaccess file in the root folder and due to that I was running the script not from my localhost but from shared hosting where obviously it failed… after removing the .htaccess it works fine!