Section 81

Every Langkawi company and the directors of the company shall cause appropriate entries to be made in the accounting and other records of the company within sixty days of the completion of the transactions to which they relate.

The accounting and other records of a Langkawi company shall be kept at the registered office of the company or at such other place in Langkawi as the directors think fit, and shall at all times be open to inspection by any director of the Langkawi company and shall be kept in such manner as to enable them to be conveniently and properly audited.

Notwithstanding subsection (3), the accounting and other records of operations outside Langkawi of a Langkawi company may be kept by the company at a place outside Langkawi, and there shall be sent to and kept at a place in Langkawi such statements and returns with respect to the business dealt with in the accounting and other records so kept as will enable to be prepared true and fair profit and loss accounts and balance sheets and any documents required to be attached thereto.

If any accounting and other records are kept at a place outside Langkawi pursuant to subsection (4), the company shall, if required by the Registrar to produce those accounting and other records at a place in Langkawi, comply with the requirements.

The Registrar may, in any particular case, direct that the accounting and other records of a Langkawi company be open to inspection by an approved auditor acting for a director of a

Langkawi company, but only upon an undertaking in writing

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Langkawi International Yachting Companies given to the Registrar that information acquired by the auditor during his inspection shall not be disclosed by him except to that director.

Any director of a Langkawi company who fails to take all reasonable steps to secure compliance by the company with the requirements of this section and sections 83 and 84 shall be guilty of an offence against this Act.

Accounts to be laid before meeting