Section 29
Obligation of guarantor company to furnish information
of Labuan Islamic Financial Services and Securities Act 2010
For the purpose of the preparation of a report which, by this Act, is required to be signed by or on behalf of the directors of a borrowing company or any of them, that borrowing company may, by notice in writing, require any of its guarantor companies to fur nish it with any information relating to that guarantor company which, by this Act, is required to be contained in that report, and that guarantor company shall furnish the borrowing company with that information before such date, being a date not later than fourteen days after the notice is given, as may be specified in that behalf in the notice.
(2)
A guarantor company or every officer of that company which fails to comply with the requirement contained in a notice given pursuant to subsection (1) commits an offence and shall, on conviction, be liable to a fine not exceeding ten thousand ringgit.