Malaysia legislation
Section 149
Section 149
(2)
All proceeding, other than criminal proceeding, relating to a
Labuan company or foreign Labuan company shall be commenced in any Court, either under the provisions of this Act or for determining the rights or obligations of officers, members or debenture holders.
(3)
Such proceeding and any appeal therefrom shall, unless the
Court otherwise orders, be heard in camera and no details of the proceeding shall be published by any person without leave of the
Court.
(4)
The provisions of subsection (1) shall not apply—
(a)
when lawfully required to make such disclosure by any
Court or under the provisions of any law being enforced by the Authority;
186 Laws of Malaysia ACT 441
(b)
for the purpose of the performance of the Authority’s supervisory functions as may be provided for under any written law;
(c)
when lawfully required pursuant to section 22 of the Labuan
Business Activity Tax Act 1990 [Act 445]; or
(d)
when duly authorized by the Labuan company or the foreign Labuan company.
(5)
A person who contravenes subsection (1) commits an offence under this Act.
Penalty: Imprisonment for three years or one million ringgit or both.
(6)
Nothing in this section shall prevent any Court from exercising its discretion to require a person to produce any document or to give any evidence in any proceeding before the Court which is relevant to those proceedings.
Power of the Minister to grant exemptions