Malaysia legislation
Section 70
Section 70
(2)
A Labuan foundation shall pay such annual fee as may be prescribed, on or before each anniversary of the date of its registration.
(3)
If a Labuan foundation fails to pay the annual fee referred to in subsection (2) on or before the expiration of a period of six months from the annual fee payment date, there shall be payable in addition to the annual fee an amount equivalent to fifty percent of the annual fee.
(4)
Any fees collected by or paid to the Authority under this
Act shall form part of and credited into the Fund established under section 29 of the Labuan Financial Services Authority
Act 1996.
Labuan Foundations 53
Secrecy