Malaysia legislation
Section 58
Section 58
Labuan company to maintain register of debenture holders
(a)
a register of holders of the debentures;
(b)
a copy of all the terms of debentures so issued;
(c)
a statement of account of the status of the debentures; and
(d)
a register of all cancelled or redeemed debentures.
(1A)
If default is made in complying with subsection (1), the
Labuan company which is in default commits an offence under this
Act.
Penalty: Twenty thousand ringgit. Default penalty.
(2)
Every register of holders of debentures of a Labuan company shall, except when duly closed, be open to the inspection of the registered holder of any such debenture and any holder of shares in that company, and shall contain, in the case of ordinary debentures, particulars of the names and addresses of the debenture holders and of the number of debentures held by each of them.
(3)
For the purposes of this section, a register of holders of debentures shall be deemed to be duly closed if closed in accordance with the provisions contained in the articles, or in the debentures or debenture stock certificates, or in the trust deeds or other documents relating to or securing the debentures, during such period or periods, not exceeding in the aggregate thirty days in any calendar year, as are therein specified.
(4)
Any registered holder of debentures issued by, and any holder of shares in, a Labuan company shall, at his request, be supplied by the company with a copy of the register of the holders of debentures of the company or any part thereof, on payment of such amount, not
Labuan Companies 75
exceeding twenty ringgit or the equivalent in any currency, as the company may require, but the copy need not include any particulars as to any debenture holder other than his name and address and the debentures held by him.
(5)
A copy of any trust deed relating to or for securing any issue of debentures by a Labuan company shall be forwarded by the company to a holder of those debentures at his request, on payment of such amount, not exceeding twenty ringgit or the equivalent in any currency, as the company may require.
(6)
If inspection is refused, or a copy is refused or not forwarded, within a reasonable time (but not more than one month) after a request has been made pursuant to this section, the Labuan company and every officer of the company who is in default commits an offence under this Act.
Penalty: *Twenty thousand ringgit. Default penalty.
(7)
(Deleted by Act A1367).
Perpetual debentures