Section 82
Retention of records
of Labuan Financial Services and Securities Act 2010
ActIn forceProvision 82 of 201
Section 82
(1)
A Labuan trust company shall maintain any record as may be required to be kept under this Act for a period of not less than six years from the date an account has been closed or the transaction has been completed or terminated.
Act 704
(2)
Any Labuan trust company which contravenes subsection (1)
commits an offence and shall, on conviction, be liable to a fine not exceeding one million ringgit or to imprisonment for a term not exceeding three years or to both.