Malaysia legislation
Section 20
Section 20
Labuan Foundations 21
(a)
has failed to pay the annual fee referred to in section 68;
or
(b)
has contravened any provisions of this Act, the Authority may serve a notice on the Labuan foundation notifying it that the name of the Labuan foundation shall be struck off the register, unless the Labuan foundation takes any step or any action to remedy the breach as may be specified in the notice within thirty days from the date of the notice or such longer period as may be extended by the Authority.
(2)
In the event the Authority—
(a)
receives from the Labuan foundation a notice stating that the Labuan foundation is likely to be unable to remedy the breach specified in the notice served on the Labuan foundation under subsection (1); or
(b)
receives no reply to a notice served on the Labuan foundation under subsection (1), the Authority may, within thirty days from the date of the expiration of the period mentioned in the notice served under subsection (1)
or thereafter, strike off the name of the Labuan foundation from the register unless the Labuan foundation or any person satisfies the Authority that the name should not be struck off.
Act 706
Effect of striking off