Malaysia legislation
Section 108E
Section 108E
(2)
A Labuan company or foreign Labuan company shall, within thirty days of any changes to the particulars kept under subsection (1), lodge with the Authority such changes in the form and manner as may be determined by the Authority.
(3)
For the purposes of subsection (2), changes occur if—
(a)
a person ceases to be a beneficial owner in relation to the
Labuan company or foreign Labuan company;
(b)
any other changes as a result of which prescribed particulars of the beneficial ownership in the register of members are incorrect or incomplete;
(c)
there are any changes to the particulars of the shareholders contained in the register; or
(d)
a person ceases to be, or becomes, a shareholder of the
Labuan company or foreign Labuan company.
(4)
A resident secretary of a Labuan company or foreign Labuan company shall ensure that the Labuan company or foreign Labuan company complies with the obligations under this section.
(5)
If default is made in complying with this section or if the
Labuan company or foreign Labuan company submits false or misleading or inaccurate information to the Authority under this section, the Labuan company, foreign Labuan company and every officer of the company who is in default commits an offence under this Act.
120 Laws of Malaysia ACT 441
Power of Authority to require submission and examination