Malaysia legislation
Section 199
Section 199
Responsibilities for doing all acts and things of Constituent Entity
(a)
in the case of a Constituent Entity that is a company, with—
(i)
the manager or other principal officer in
Malaysia;
Finance (No. 2)
(ii)
the directors;
(iii)
the secretary; and
(iv)
any natural person (however styled) exercising the functions of any of the natural person mentioned in the foregoing paragraphs; and
(b)
in the case of a Constituent Entity that is an arrangement that prepares separate financial accounts, such as a partnership or trust, with—
(i)
the manager;
(ii)
the treasurer;
(iii)
the secretary; and
(iv)
the members of its controlling authority.
(2)
The liquidator of a Constituent Entity that is a company which is being wound up shall not distribute any of the assets of the Constituent Entity to its shareholders unless he has made provision (in so far as he is able to do so out of the assets of the Constituent Entity) for the payment in full of any tax which he knows or might reasonably expect to be payable by the Constituent Entity under this Part.
(3)
Any liquidator who fails to comply with subsection (2)
shall be liable to pay a penalty equal to the amount of the tax to which the failure relates.
(4)
Subsection 235(2) shall apply to a penalty imposed by subsection (3) of this section as it applies to a penalty imposed by subsection 225(5) or 227(2).
Act 851
Responsibilities for doing all acts and things of limited liability partnership and business trust