Section 84A
Assignment and variation of charge
If after a charge on property of a Labuan company has been created and lodged pursuant to section 84 and if a person other than the original charge holder becomes the new holder of the charge or any variation to the particulars of the charge, the company shall, within thirty days and upon payment of a prescribed fee, lodge with the
Authority a notice stating the assignment or variation and the notice shall contain other information as may be determined by the Authority.
(2)
If default is made in complying with this section, the Labuan company and every officer of the company who is in default commits an offence under this Act.
Penalty: Fifty thousand ringgit. Default penalty.
*NOTE—Previously “Ten”—see section 27 of the Labuan Companies (Amendment) Act 2022
90 Laws of Malaysia ACT 441