Malaysia legislation

Section 56

Section 56

Authority may strike a Labuan company off the register, if the Labuan company—

(a)

in subsection (1)—

(i)

in paragraph (b), by deleting the word “or”;

(ii)

in paragraph (c), by substituting for the full stop at the end of the paragraph the words “; or”;

and

(iii)

by inserting after paragraph (c) the following paragraph:

“(d) incur any new liability.”; and

(b)

in subsection (3)—

(i)

by deleting paragraph (a); and

(ii)

in paragraph (c)—

(A)

by substituting for the words “Part VIII and Part X” the words “Subdivision 3

of Division 7 of Part III and Division 1

and Division 2 of Part IV”; and

(B)

b y s u b s t i t u t i n g f o r t h e w o r d s

“Companies Act 1965” the words

“Companies Act 2016”.

Amendment of section 151d