Malaysia legislation

Section 18

of LABUAN FINANCIAL SERVICES AND SECURITIES ACT 2010

Section 18

(2)

If there is non-compliance with this section, every officer of the corporation who is in default and who knowingly and wilfully authorizes or permits the default commits an offence and shall, on conviction, be liable to a fine not exceeding one million ringgit or to imprisonment for a term not exceeding three years or to both.