Malaysia legislation
Section 40
Section 40
Section 110 of the principal Act is amended—
(a)
by inserting after subsection (3) the following subsection:
“(3a) If default is made in complying with subsection (1), (2) or (3), the director of the Labuan company who is in default commits an offence under this Act.
Penalty: Five hundred thousand ringgit or imprisonment for a term not exceeding five years or both.”; and
(b)
in subsection (5), by deleting the words “and sections 112
and 113”.
Amendment of section 111