Section 151E
Letter of confirmation and letter of good standing
The Authority may issue a letter of confirmation under its seal, upon a request by any Labuan trust company, approved
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liquidator, receiver and manager, other person having written permission of the officer of the company, member, debenture holder, director or liquidator of the Labuan trust company or any person who can demonstrate to the Authority that he has a good reason for doing so, provided that—
(a)
the name of the Labuan company is in the register;
(b)
the Labuan company has paid all fees and penalties due and payable; and
(c)
the prescribed fee has been paid.
(2)
A letter of confirmation issued under subsection (1) shall state the following:
(a)
the name of the Labuan company, its date of incorporation and the company number;
(b)
the registered address of the Labuan company;
(c)
the directors and secretaries of the Labuan company;
(d)
a statement to indicate whether the Labuan company is in the process of being wound up and dissolved or being struck off the register; or
(e)
any other information as requested by a Labuan trust company or an approved auditor as deemed fit by the
Authority.
(3)
Where any information is lodged by the Labuan trust company with the Authority under this Act, neither the Authority nor any of its officers or employees involved in the issuance of the letter of confirmation pursuant to subsection (1) shall be held liable for any loss or damage suffered by any person by reason of any default, error or omission if made in good faith and in the ordinary course of the discharge of duties.
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