Malaysia legislation

Section 82

of LANGKAWI INTERNATIONAL YACHTING COMPANIES ACT 2005

Section 82

(2)

Notwithstanding subsection (1), a Langkawi company shall not be required to lay before the company at a meeting of members the audited accounts or unaudited accounts, as the case may be, of the company if the members unanimously resolve that such accounts need not be laid at a meeting of members in respect of each financial year.

(3)

If default is made in complying with this section, the

Langkawi company and every officer of the company shall be guilty of an offence against this Act.

Penalty: Ten thousand ringgit. Default penalty.

Accounts to be sent to members