Section 123
Registered office of foreign Labuan companies
ActIn forceProvision 147 of 211
Section 123
(1)
Every foreign Labuan company shall at all times have a registered office in Labuan, which office shall be the principal office of a Labuan trust company.
(2)
Notice in the prescribed form of the situation of the registered office and any change thereof shall be lodged with the Authority within one month after the date of registration of the foreign Labuan company or the date of the change, as the case may be.
(3)
If default is made in complying with this section the foreign
Labuan company and every officer of the company who is in default commits an offence under this Act.
Penalty: *Fifty thousand ringgit. Default penalty.