Malaysia legislation

Section 7

of LABUAN COMPANIES (AMENDMENT) ACT 2012

Section 7

Amendment of section 151

(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