Malaysia legislation
Section 20
Section 20
Section 70 of the principal Act is amended—
(a)
by renumbering the existing provision as subsection (1);
and
(b)
by inserting after subsection (1) as renumbered the following subsection:
“(2) If default is made in complying with this section, the Labuan company, foreign Labuan company or agent of the company 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.”.
Amendment of section 71