Malaysia legislation
Section 121
Section 121
(2)
Every foreign company shall, prior to establishing a place of business, or carrying on business, in Labuan, lodge with the
Authority for registration—
(a)
a certified copy of the certificate of its incorporation or registration in its place of incorporation or origin, or a document of similar effect;
(b)
a certified copy of its charter, statute or memorandum and articles or other instrument constituting or defining its constitution;
(c)
a list of its directors and officers containing similar particulars with respect to its directors as are required to be contained in the register of the directors and secretaries a
Labuan company under section 94;
(d)
where the list referred to in paragraph (c) includes directors resident in Labuan who are members of the local board of directors, a memorandum duly executed by or on behalf of the foreign Labuan company stating the powers of the local directors;
(e)
a memorandum of appointment or power of attorney under the seal of the foreign company or executed on its behalf in
144 Laws of Malaysia ACT 441
such manner as to be binding on the company and, in either case, verified in the prescribed manner, stating the name of a Labuan trust company that is authorized to accept on its behalf service of process and any notice required to be served on the company; and
(f)
a statutory declaration in the prescribed form made by an officer of the Labuan trust company, and the Authority may, on payment of the prescribed fees, and subject to this Act and any condition which it may impose, register the company under this Part as a foreign Labuan company by registration of the documents.
(3)
The Authority shall issue a certificate in the prescribed form of every registration of a foreign Labuan company and the certificate shall be conclusive evidence that the requirements as to registration have been complied with.
(4)
Where a memorandum of appointment or power of attorney lodged with the Authority in pursuance of paragraph (2)(e) is executed by a person on behalf of a foreign Labuan company, a copy of the deed or document by which that person is authorized to execute the memorandum of appointment or power of attorney, verified by statutory declaration in the prescribed manner, shall be lodged with the Authority and the copy shall for all purposes be regarded as an original.
(5)
A foreign Labuan company shall pay an annual fee in accordance with section 151.
Prohibition and restriction on foreign Labuan company