Malaysia legislation
Section 151C
Section 151C
(a)
commence any legal proceedings, carry on any business or in any way deal with the assets of the Labuan company;
(b)
defend any legal proceedings, make any claim or claim any right for, or in the name of, the Labuan company;
(c)
act in any way with respect to the affairs of the Labuan company; or
(d)
incur any new liability.
(2)
Notwithstanding subsection (1), where the name of the Labuan company has been struck off the register, the a Labuan company, or a director, member, approved liquidator or receiver thereof, may—
(a)
apply to the Authority for the Labuan company to be registered afresh;
(b)
continue to defend proceedings that were commenced against the Labuan company prior to the date of the striking off; and
(c)
continue to carry on legal proceedings that were instituted on behalf of the Labuan company prior to the date of striking off.
(3)
The fact that the name of a Labuan company has been struck off the register does not prevent—
(a)
(Deleted by Act A1653).
Labuan Companies 191
(b)
any creditor from making a claim against the Labuan company and pursuing the claim through to judgment or execution; or
(c)
the appointment by the Court of an approved liquidator for the Labuan company under Subdivision 3 of Division 7 of
Part III and Division 1 and Division 2 of Part IV (in so far as they relate to a Labuan company limited by shares) of the
Companies Act 2016.
Dissolution of a Labuan company