Section 7
Permitted purpose for incorporation
ActIn forceProvision 7 of 212
Section 7
(2)
Subject to subsection (3), a Labuan company may carry on a business with a resident.
(3)
No Labuan company shall—
(a)
issue or offer to any resident for subscription or purchase; or
(b)
invite any resident to subscribe or purchase, any interest pursuant to the relevant provisions of the Interest
Schemes Act 2016 [Act 778] where such issue or offer or invitation is made in Malaysia, other than Labuan, unless the provisions of the
Interest Schemes Act 2016 are complied with.
(4)
(Deleted by Act 1653).
(5)
(Deleted by Act 1653).
(6)
(Deleted by Act 1653).
26 Laws of Malaysia ACT 441