Malaysia legislation

Section 21

of LANGKAWI INTERNATIONAL YACHTING COMPANIES ACT 2005

Section 21

Langkawi International Yachting Companies

(2)

The Registrar may require a statutory declaration made by an officer to be lodged stating that all or any of the requirements of this Act have been complied with, and the Registrar may accept such a declaration as sufficient evidence of compliance.

(3)

On the registration of the memorandum, the Registrar shall certify under his hand and seal that the company is, on and from the date specified in the certificate, incorporated, and that the company is a company limited by shares.

(4)

On and from the date of incorporation specified in the certificate of incorporation, but subject to this Act, the subscribers to the memorandum together with such other persons as may from time to time become members of the company shall be a body corporate by the name contained in the memorandum, capable immediately of exercising all the functions of an incorporated company, and of suing and being sued, and having perpetual succession and a common seal, with power to hold land but with such liability on the part of the members to contribute to the assets of the company in the event of its being wound up as is provided by this Act.

(5)

A certificate of incorporation of a company issued by the

Registrar shall be prima facie evidence of compliance with all the requirements of this Act in respect of incorporation.

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Act 643

(6)

A Langkawi company shall pay such annual fee as may be prescribed in the prescribed manner.

(7)

Every subscriber to the memorandum shall be deemed to have agreed to become a member of a Langkawi company and, on the incorporation of the company, shall be entered as a member in its register of members in respect of the shares subscribed for or by him in the memorandum, and every other person who agrees to be a member of a company and whose name is entered into the register of members shall be a member of the company.

Application for registration of foreign company as being continued in Langkawi

Section 21 — LANGKAWI INTERNATIONAL YACHTING COMPANIES ACT 2005