Section 15

The Authority may require a statutory declaration made by an officer to be lodged stating that all or any of the requirements of this

Act have been complied with, and the Authority may accept such a declaration as sufficient evidence of compliance.

On the registration of the memorandum, the Authority shall certify under its seal that the company is, on and from the date specified in the certificate, incorporated as a Labuan company limited by shares or guarantee or is an unlimited company.

On and from the date of incorporation specified in the certificate of incorporation, but subject to this Act, the subscribers to the memorandum together with such other persons as may from time to time become members of the company shall be a body corporate by the name contained in the memorandum, capable forthwith of exercising all the functions of an incorporated company, and of suing and being sued, and having perpetual succession and a common seal, with power to hold land but with such liability on the part of the members to contribute to the assets of the company in the event of its being wound up as is provided by this Act.

A certificate of incorporation of a company issued by the

Authority shall be prima facie evidence of compliance with all the requirements of this Act in respect of incorporation.

(Deleted by Act A1367).

40 Laws of Malaysia ACT 441

Every subscriber to the memorandum shall be deemed to have agreed to become a member of a Labuan company and, on the incorporation of the company, shall be entered as a member in its register of members in respect of the shares subscribed for or by him in the memorandum or his contribution to the capital of the company, and every other person who agrees to be a member of a company and whose name is entered into the register of members shall be a member of the company.

The Authority may, from time to time, issue directions, guidelines or requests as it considers necessary in respect of the registration and incorporation of a Labuan company, including —