Malaysia legislation
Section 57
Section 57
Section 151d of the principal Act is amended—
(a)
by renumbering the existing provision as subsection (1);
(b)
in as renumbered subsection (1)—
(i)
by inserting after the words “under section 151”
the words “or section 151ba”; and
(ii)
by substituting for the words “three years”
wherever appearing the words “one year and six months”; and
(c)
by inserting after subsection (1) as renumbered the following subsection:
“(2) Where a Labuan company has been dissolved pursuant to subsection (1), the Court may, at any time within six years after the date of dissolution, on an application of any person who appears to the Court to have locus standi and legitimate interest in the Labuan company, if the Court is satisfied that at the time of the dissolution of the Labuan company, the company has not discharged all of its debts and liabilities or that it is for the name of the Labuan company to be restored, make an order upon such terms declaring the dissolution to be void, and such proceedings may be taken as if the company has not been dissolved and the Court may by order give such directions and make such provision.”.
Amendment of section 151e