9. Amendment of section 42
Feedback & supportSection 42 of the principal Act is amended—
(a)
by renumbering the existing section as subsection (1);
and
(b)
by inserting after the renumbered subsection (1) the following subsection:
“(2) Where the Labuan foundation fails to appoint a replacement secretary within thirty days from the effective date of cessation pursuant to subsection (1), the Labuan foundation is deemed to be struck off the register of Labuan foundations.”.