Malaysia legislation
Section 35
of LABUAN LIMITED PARTNERSHIPS AND LIMITED LIABILITY PARTNERSHIPS ACT 2010
Section 35
(a)
there is no security interest in its assets subsisting or in force at the time of application; and
(b)
the partners of the Labuan limited liability partnership to which it is to be converted comprises all the stakeholders of the Labuan company and no one else.
(2)
In this chapter, “convert”, in relation to a Labuan company converting to a Labuan limited liability partnership, means a transfer of the properties, interests, rights, privileges, liabilities, obligations and the undertaking of the Labuan company to the
Labuan limited liability partnership.
Statements to be filed