Section 22

If the Authority approves the name which the company has resolved should be its new name, the Authority shall, on payment of the prescribed fee, issue a certificate of incorporation of the company under the new name and upon the issue of such certificate of incorporation the change of name shall become effective.

If the name of a Labuan company is (whether through inadvertence or otherwise and whether originally or by a change of name) a name by which the company could not be registered without contravention of subsection 21(1), the company may, by special resolution, change its name to a name by which the company could be registered without contravention of that subsection and, if the

Authority so directs, shall so change it within six weeks after the date of direction or such longer period as the Authority allows, unless the

Minister, by written notice, annuls the direction, and if the company fails to comply with the direction it commits an offence under this

Act.

Penalty: *Fifty thousand ringgit.

A change of name pursuant to this Act shall not affect the identity of the Labuan company or any rights or obligations of the

*NOTE—Previously “Ten”—see section 11 of the Labuan Companies (Amendment) Act 2022

Labuan Companies 49

company or render defective any proceedings by or against the company; and any legal proceedings that might have been continued or commenced by or against the company by its former name may be continued or commenced by or against the company by its new name.

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