Labuan Financial Services Authority Act 1996 · s 36E

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s 36EApplication for winding up

(1)

Notwithstanding the provisions of the Companies Act 1965

or the laws specified in the Schedule, any corporation registered under the Labuan Companies Act 1990 [Act 441], whether or not the corporation is being wound up voluntarily, may be wound up under an order of the court on the petition of the Authority, in accordance with the provisions of the Labuan Companies Act 1990.

(2)

The court may order the winding up on a petition made under subsection (1) if the corporation referred to in subsection (1)—

(a)

has been registered under the Labuan Companies Act 1990, and that registration has been revoked or surrendered; or

(b)

has contravened any provisions of this Act or the laws specified in the Schedule, whether or not the corporation has been charged with an offence in respect of the contravention, or whether or not the contravention has been proved in a prosecution.