Malaysia legislation

Section 21

of LABUAN COMPANIES (AMENDMENT) ACT 2022

Section 21

Section 71 of the principal Act is amended by inserting after subsection (2) the following subsection:

“(3)  If default is made in complying with this section, the person who is in default commits an offence under this Act.

Penalty: One million ringgit or imprisonment for a term not exceeding three years or both.”.