Section 69
Interests to be issued by a Labuan company or a foreign Labuan company only
ActIn forceProvision 76 of 211
Section 69
(1)
No person, except a Labuan company or a foreign Labuan company or an agent of such company authorized in that behalf under the seal of the company, shall issue or offer to the public for
80 Laws of Malaysia ACT 441
subscription or purchase, or shall invite the public to subscribe for or purchase, any interest.
(2)
If default is made in complying with this section, the person who is in default commits an offence under this Act.
Penalty: Three million ringgit or imprisonment for a term not exceeding five years or both.