Malaysia legislation
Section 118D
Section 118D
(2)
The Authority shall, as soon as practicable after the effective date of an amalgamation, remove each of the amalgamating Labuan companies previous names from the register.
(3)
A certificate of amalgamation and incorporation issued by the
Authority shall be proof of compliance with all the requirements of this Act in respect of the amalgamation and incorporation.
(4)
The amalgamated Labuan company shall lodge, within thirty days from the issue of the certificate in subsection 118A (13), an authenticated copy of the certificate and an authenticated copy of the amalgamation proposal with the appropriate authority, if any, concerned with the registration or recording of dealings in any movable property or an interest in movable property transferred pursuant to the amalgamation.
(5)
Where the amalgamation proposal requires the vesting of any alienated land, or any share or interest in any alienated land in the proposed amalgamated Labuan company—
(a)
the Authority shall, where such alienated land is in
Peninsular Malaysia, pursuant to subsection 420(2) of the
National Land Code [Act 56/1965], cause an authenticated copy of the certificate together with an authenticated copy of the amalgamation proposal to be served on the Registrar of Titles or the Land Administrator, as the case may be, immediately after the issue of the certificate so that the
Registrar of Titles or the Land Administrator, as the case may be, gives effect to subsections 420(2), (3) and (4) of the
National Land Code;
(b)
where such alienated land is in Sabah, the amalgamated
Labuan company shall, as soon as practicable after the certificate has been issued, present an authenticated copy of such certificate to the Registrar for the registration of the vesting of the alienated land or of the share or interest in the
Labuan Companies 141
alienated land as provided under the Land Ordinance of
Sabah [Sabah Cap. 68]; or
(c)
where such alienated land is in Sarawak, the amalgamated
Labuan company shall, as soon as practicable after the order has been made, produce an authenticated copy of such certificate to the Registrar for the registration of the vesting of the alienated land or of the share or interest in alienated land, in the amalgamated Labuan company, as provided under section 171 of the Land Code of Sarawak [Sarawak
Cap. 81].
(6)
An amalgamation proposal approved pursuant to this section may relate to any property or business of any of the amalgamating
Labuan companies outside Malaysia and, if it so relates, effect may be given to it either in accordance with any reciprocal arrangements relating to enforcement of judgements that may exist between
Malaysia and the country, territory or place outside Malaysia in which such property or business is located, or where there are no such arrangements, in accordance with the law applicable in such country, territory or place.
Regulations in respect of takeover, merger and amalgamation