Section 38

there shall be a Labuan limited liability partnership by the name specified in the certificate of registration registered under this Act, with all the attributes described in Part IV of this Act and subject to the provisions of this Act;

all movable and immovable properties vested in the Labuan limited partnership or Labuan company, all interests, rights, privileges, liabilities and obligations relating to the Labuan limited partnership or Labuan company, and the whole of the undertaking of the Labuan limited partnership or Labuan company, as the case may be, shall be transferred to and shall vest in the Labuan limited liability partnership without further assurance, act or deed;

Act 707

the Labuan limited partnership or Labuan company shall be deemed to be dissolved; and

the Labuan limited partnership or Labuan company shall be removed from the register of Labuan limited partnerships maintained by the Authority or register of companies maintained under the Labuan Companies Act 1990, respectively.

If any property to which paragraph (1)(b) applies is registered with a relevant authority, the Labuan limited liability partnership shall, as soon as practicable after the date of registration, take all necessary steps as required by the relevant authority to notify that relevant authority of the conversion and of the particulars of the Labuan limited liability partnership in such medium and form as the Authority may determine.

Pending proceedings