Section 7
Section 151 of the principal Act is amended—
of Labuan Companies (Amendment) Act 2012
Amendment ActIn forceProvision 7 of 7
Section 7
(a)
by inserting after subsection (1) the following subsection:
“(1A) The Authority may impose an administrative penalty on payment of any annual fees received later than the anniversary date as specified in subsection
(1)
.”; and
(b)
in subsection (2), by substituting for the word “If” the words “Notwithstanding subsection (1A), if”.
KUALA LUMPUR