Section 74
Section 2B of the principal Act is amended by substituting for
ActIn forceProvision 79 of 108
Section 74
44
subsection (1) the following subsection:
“(1) The Labuan entities —
(a)
shall be as specified in the Schedule; and
(b)
shall, for the purpose of the Labuan business activity, have —
(i)
an adequate number of full time employees in
Labuan; and
(ii)
an adequate amount of annual operating expenditure in Labuan, as prescribed by the Minister by regulations made under this Act.”.