Section 35
Conversion from Labuan company to Labuan limited liability partnership
of Labuan Limited Partnerships and Limited Liability Partnerships Act 2010
A Labuan company may convert to a Labuan limited liability partnership if and only if—
(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.