Section 61
Registrar’s power to restrain persons from managing Langkawi companies
of Langkawi International Yachting Companies Act 2005
(1)
The Registrar may issue a direction that a person who, in Langkawi or elsewhere—
(a)
has been convicted of an offence in connection with the promotion, formation or management of a corporation;
(b)
has been convicted of any act involving fraud or dishonesty;
or
(c)
is an undischarged bankrupt or insolvent, be disqualified from acting as a director or promoter of, or being in any way directly or indirectly concerned with or taking part in the management of, a Langkawi company.
64
Act 643
(2)
After a direction has been issued by the Registrar under subsection (1), a Langkawi company shall not thereafter appoint or retain a person so disqualified as a director, and a person so disqualified who acts in contravention of that direction without leave of the Court shall be guilty of an offence against this
Act.
Penalty: Ten thousand ringgit.