Malaysia legislation
Section 130T
Section 130T
(1A)
Where a Labuan protected cell company makes any allotment of its cell shares, the protected cell company shall, within thirty days, lodge with the Authority the information of such allotment.
(2)
The proceeds of the issue of shares other than cell shares created and issued by a Labuan protected cell company shall be comprised in the general assets of the Labuan protected cell company.
(3)
Cell dividend may be paid by a Labuan protected cell company in respect of cell shares by reference only to the cell assets and liabilities attributable to the cell in respect of which the cell shares were issued.
(4)
In determining the cell dividend, no account need to be taken care of—
(a)
the profit and losses, or the assets and liabilities, attributable to any other cells of the Labuan protected cell company; or
(b)
the non-cell profit and losses, or the assets and liabilities, of the Labuan protected cell company.
(5)
A Labuan protected cell company shall prepare a certificate of title to cell shares, in respect of any new cell shares issued by, transferred to or registered by it or to be replaced by it as a result of being lost, stolen or damaged, and each certificate must state—
(a)
the cell to which the cell shares relate;
(b)
the number of cell shares, the title of which is evidenced by the certificate;
(c)
where the Labuan protected cell company has more than one class of cell shares, the class of cell shares, the title to which is evidenced by the certificate; and
(d)
the name of the holder.
158 Laws of Malaysia ACT 441
Register of shareholders