Labuan Corporation Act 2001

Original Language Title: Perbadanan Labuan Act 2001

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Laws of Malaysia Act 609 Reprinting of labUan Corporation Act 2001 Contains all amendments to 1 January 2006 published by the Commissioner of law revision, under the authority of Law Revision Act 1968 In collaboration with PerCetakan naSional malaySia bhD 2006 laws of Malaysia Act 609 labUan Corporation Act 2001 the date of Royal Assent............ February 15, 001 date of publication in the Gazette of ... ... more March 1, 001 Reprint before Reprinting the first............ 2002 Labuan Corporation laws of Malaysia Act 609 labUan Corporation Act 2001 arrangement of sections part i preliminary section 1. short title and commencement. interpretation part ii Corporation. Establishment of the Corporation 4. Functions and powers of the Corporation 5. membership of the Corporation 6. 7 Advisory Council. power of Minister to give directions 8. Statements, reports, accounts and information part iii Chairman, officers and Servants of the Corporation 9. Chairman of 10. Chief Executive Officer 11. Appointment of officials and other servants of the Corporation 1. discipline Bahagtan iV financial 1. Fund 14. Expenses shall be charged on the Fund 4 laws of Malaysia Act 609 15. Conservation Fund 16. Fund reserves of 17. Fund an increase of 18. Expenditure and preparation of estimates 19. Act statutory bodies (accounts and annual reports) 1980 part V powers other Corporation 0. power to borrow 1. Investments. power to employ. power to grant loans 4. the power to establish the Corporation 5. Land acquisition part Vi General 6. obligations of secrecy 7. Protection of officers and servants 8. public authorities Protection Act 1948 9. Public servants 0. the power to make regulations part Vii Repeal, Transitional And saving of 1. interpretation with respect to part Vii. Abolition and liquidation. The transfer of power, etc.
4. Transfer of property 5. The transfer of the money to fund 6. membership of the Board dissolved and disbanded Council 7. Continuation of officers and servants of Labuan Corporation Section 5 8. Continuation of application, etc., pending 9. Sound in law or document first schedule second schedule of the third Schedule section 6 laws of Malaysia Act 609 Labuan Corporation 7 laws of Malaysia Act 609 labUan Corporation Act 2001 an act to abolish the labuan Development Authority Act 199 and cancel Instrument labuan Municipal Council 198; to dissolve the labuan development authority and the labuan Municipal Council; to set up labuan Corporation to replace the labuan development authority and the labuan Municipal Council; and to provide for matters connected therewith.
[1 July 2001, P.U. (B) 128/2001] enacted by the Parliament of malaysia as follows: part i preliminary short title and commencement 1. (1) this Act may be cited as the akta Perbadanan labuan 001.
() this Act shall come into force on such date as the Minister may, by notification in the Gazette and the Minister may set the start date of the effect that different for different provisions in this Act.
interpretation 2. In this Act, unless the context otherwise requires — "Chief Executive Officer" means the Chief Executive Officer appointed under subsection 10 (1) and includes any 8 laws of Malaysia Act 609 officer directed under subsection 10 (6) in order to perform the duties of the Chief Executive Officer;
"Fund" means the Fund established under section 1;
"Advisory Council" means the Advisory Council established under section 6;
"Minister" means the Minister of finance;
"Chairman" means the Chairman of the Corporation appointed under section 5;
"Corporation" means a corporation established under section.
Part ii the Corporation establishment of Corporation 3. (1) a body corporate called "Corporation" was established.
() The Corporation shall have perpetual succession and a common seal.
() The Corporation may sue and be sued (s).
(4) subject to and for the purposes of this Act, the Corporation may, upon such terms as he thinks fit — (a) enter into contracts;
(b) acquire, purchase, take, hold and enjoy any kind of movable and immovable property; and (c) transfer, assign, surrender, return, mortgage, charge, pledge, assign the mendemis, transferred or Labuan Corporation 9 in any other way dispose of, or make any arrangements regarding, any movable or immovable property or any interest therein vested in the Corporation.
Functions and powers of the Corporation 4. (1) the functions of the Corporation is: (a) develop and stimulate the Federal territory of labuan as a tourist destination, duty free area and commercial centre;
(b) to promote, stimulate, facilitate and pursuing economic and social development in the Federal territory of labuan;
(c) promote, stimulate and cultivate the development of Arts, culture, sports and recreational activities in the Federal territory of labuan;
(d) promote, stimulate, facilitate and farm tourism development and infrastructure as well as the development of shelter, agriculture, industrial and commercial in the Federal territory of labuan;
(e) perform all the functions of local government in the Federal territory of labuan;
(f) perform all the functions of the local planning authority in the Federal territory of labuan;
(g) control and co-ordinate the implementation of the activities referred to in paragraph (a), (b), (c) and (d) in the Federal territory of labuan; and (h) coordinate implementation activities undertaken by government agencies in the Federal territory of labuan.
() The Corporation shall have power to do all things expedient or reasonably necessary for, or incidental to, the performance of its functions, and in particular, but without prejudice to the generality of the aforesaid — (a) to carry out all activities, in particular activities of a commercial or industrial activity, the 10 laws of Malaysia Act 609 relating to tourism and research activities and training, which is found by commissioning is necessary interest-bearing, or appropriate for or in connection with the performance of its functions;
(b) to mendayausahakan initial studies on the areas of development and redevelopment as possible and make initial plans outlining activities development or redevelopment and initial review to determine whether the undertaking and conduct development projects or redevelopment can be carried out;
(c) to regulate, approve or control all the building and operation of buildings and repair as well as the removal of debris and buildings dangerous, including the power to forbid, to close and demolish the building from a class, design or appearance within the Federal territory of labuan;
(d) to work with or acting as an agent or agents for, or acts in any other manner together with or on behalf of, the Federal Government, any public authority, any company or Corporation, or any other body or person;
(e) to promote and co-ordinate the conduct of activities referred to in paragraph (a) and (b) by the Federal Government, any public authority, any company or Corporation, or any body or person;
(f) with the approval of the Minister, to set up or expand, or advancing the establishment or expansion, companies, corporations or other bodies to carry out any of the activities referred to in paragraph (a) and (b) either under control or partial control of the Corporation or independently;
(g) to provide assistance to any public authority, any company or Corporation, or any other body or person that is found by the Corporation have the facilities to carry out any activity referred to in Labuan Corporation 11 paragraphs (a) and (b), including, with the approval of the Minister, financial assistance by taking share capital or loans or by loans or otherwise;
(h) with the approval of the Minister, to underwrite or in any other way acquire any shares and shares in any company, public or private and dispose of the shares or stock in accordance with such terms and conditions as may be determined by the Corporation with the approval of the Minister;
(i) to require that the Federal Government, any public authority, any company or Corporation, or any body or person to obtain the approval of the Corporation prior to carrying out development in the Federal territory of labuan;
(j) with the approval of the Minister, to dispose of the capital assets and use the proceeds from the disposal of it as directed by the Minister;
(k) to appoint an agent may deem fit for the purpose of discharging its functions;
(l) to impose fees or any other charges which it thinks fit to carry out any of the functions or powers;
(m) regulating, coordinating and working on development, including the development of infrastructure, in the Federal territory of labuan;
(n) for assessment and collection of the tax assessment of the property; and (o) to do any other things which it thinks fit to enable it to exercise its powers and functions effectively.

() subject to section 7, it is the responsibility of the Corporation in carrying out its functions under this Act to ensure that those functions are carried out in a manner that can ensure the success of the Federal Government's policy in force and in particular policies relating to the development of investment and tourism in the Federal territory of labuan.
1 laws of Malaysia Act 609 membership of the Corporation 5. (1) the Corporation shall consist of the following members who shall be appointed by the Minister: (a) a Chairman;
(b) a Deputy Chairman; and (c) four other members.
() the Minister may, in respect of each member appointed under paragraph (1) (c), appoint an alternate member to attend meetings of the Corporation in lieu of the Member when the Member is unable to attend for any reason.
() when attending the meeting of the Corporation, an alternate member shall for all purposes be deemed to be a member of the Corporation.
(4) an alternate member shall, unless he resigns beforehand or his appointment is cancelled in advance, cease to be an alternate member when the Member in respect of which he became an alternate member cease to be a member of the Corporation.
(5) the provisions of the first schedule shall apply to the Corporation.
The Advisory Council 6. (1) the Corporation shall establish an Advisory Council which shall consist of the following members who shall be appointed by the Minister: (a) a Chairman; and (b) six other members which shall consist of at least three local residents Federal territory of labuan.
Labuan Corporation 1 () Advisory Council is responsible for giving advice to the Corporation in respect of local government functions performed by the Corporation.
() The provisions of the Second Schedule shall apply to the Advisory Council.
power of Minister to give directions 7. (1) the Corporation shall be responsible to the Minister.
() the Minister may, from time to time, give instructions in accordance with the provisions of this Act and the Corporation shall, as soon as possible, implement all such instructions.
statements, reports, accounts and information 8. (1) the Corporation shall give to the Minister, and any public authority as directed by the Minister, any statements, reports, accounts and information concerning the property and activities of the Corporation as required or directed by the Minister from time to time.
() without prejudice to the generality of subsection (1), the Corporation shall, as quick as practicable after the end of each financial year, cause to be made and sent to the Minister and, if directed by the Minister, to any other public authority a report which deals with the activities of the Corporation during the previous financial year.
() a report under subsection () shall be in such form and containing such information relating to the proceedings and policy of the Corporation as specified by the Minister from time to time.
14 laws of Malaysia Act 609 part iii Chairman, officers and Servants of the Corporation Chairman 9. (1) without prejudice to the other provisions of this Act, the Chairman shall perform such duties as the Minister may from time to time.
() The Corporation may, with the approval of the Minister, delegate to the Chairman of all or any of the functions, powers or duties vested in or imposed on the Corporation by this Act and any functions, powers or duties so delegated may be exercised or fulfilled, carried out by the Chairman in the name and on behalf of the Corporation.
() every delegation under subsection () shall be published in the Gazette.
Chief Executive Officer 10. (1) the Corporation may, with the approval of the Minister, appoint a Chief Executive Officer upon such terms and conditions as he may deem fit.
() the Chief Executive Officer shall be responsible for — (a) the preparation of programmes, schemes and projects for the consideration of the Corporation;
(b) the implementation of all programmes, schemes and projects of the Corporation; and (c) the implementation of the results of the Corporation and the instructions of the Chairman.
() the Chief Executive Officer shall have general control power over other officers and servants of the Corporation.
Labuan Corporation 15 (4) the Chief Executive Officer shall perform such additional duties as directed by the Corporation from time to time.
(5) in fulfilling its duties, the Chief Executive Officer shall act under the authority and in accordance with the General instructions of the Corporation.
(6) if the Chief Executive Officer does not exist in malaysia temporarily or temporarily incapacitated due to illness or for any other reason for discharging its duties, the Corporation may direct any other officer to perform the duties of the Chief Executive Officer within the Chief Executive Officer does not exist or is unable to do in the meantime.
appointment of officials and other servants of the Corporation 11. (1) subject to any regulations made under subsection (), the Corporation may appoint, on such terms and conditions as he may deem fit, officials and other servants may be necessary for carrying out the purposes of this Act.
() no eligible service as an officer or taken servants of the Corporation if he, directly or indirectly, himself or by his partner, any share or interest of any contracts or proposed contracts with, for or on behalf of the Corporation.
() The Corporation may, with the approval of the Minister to make regulations in respect of the conditions of service of officers and servants of the Corporation.
discipline 12. The Corporation shall have disciplinary powers over all officers and pekhidmatnya and shall exercise disciplinary control in respect of all of such person.
16 laws of Malaysia Act 609 part iV financial fund 13. (1) a fund to be known as "labuan Corporation Fund" which shall be administered and controlled by the Corporation is established.
() the Fund shall consist of — (a) any sums allotted from time to time for the purposes of this Act by the Parliament;
(b) any sum of money paid from time to time to the Corporation of the loans granted by the Corporation;
(c) money derived from the conduct of any project, scheme or Enterprise financed out of the Fund;
(d) the monies earned or derived from any property, investments, mortgages, charges or debentures acquired by or vested in the Corporation;
(e) any other property, investments, mortgages, charges or debentures acquired by or vested in the Corporation;
(f) the amount of money borrowed by the Corporation for the purpose of fulfilling any of its obligations or discharging any of its obligations; and (g) all sums of money or other property, other than money referred to in subsection 17 (), which may in any way be payable to or vested in the Corporation in respect of any matter incidental to the functions, powers and obligations.
expenses shall be charged on the Fund 14. Fund shall be expended for the purpose of — (a) to grant a loan under section;
Labuan Corporation 17 (b) pay any expenses lawfully incurred by the Corporation, including the fees and the cost of survey and legal fees and other costs, and the remuneration of officers and servants of the Corporation, including lending, retirement allowance, pension or gratuity;
(c) pay any expenses, costs or other expenses incurred or accepted properly by the Corporation in the performance of its functions or exercise powers under this Act;
(d) buy or rent a plant, equipment, machinery and materials, acquire land and other assets, and to erect buildings, and to carry out any work and undertaking other exercise thereof or the exercise of powers under this Act;
(e) pay any moneys borrowed under this Act and the interest payable thereon; and (f) generally pay any expenses for carrying out the provisions of this Act.
Conservation Fund 15. It shall be the duty of the Corporation to maintain the Fund by performing, exercising and discharging its functions, powers and obligations under this Act in such a way that with uncertain that the total revenues of the Corporation to pay all sums properly chargeable on revenue account, including depreciation and interest on capital, from year to year.
the 16 reserve fund. The Corporation shall establish and manage a fund the reserve fund.
Fund increased service 17. (1) the Corporation shall establish and manage a fund known as the "Fund Increased service".
18 laws of Malaysia Act 609 () Service Improvement Fund shall consist of any money contributed by any person that erection in the Federal territory of labuan in accordance with the rates specified through regulations.
() the Service Improvement Fund shall be expended for the purpose of performing the work to improve existing infrastructure.
expenses and the preparation of the estimate of 18. (1) the expenditure of the Corporation up to any amount authorised by the Minister for any one year shall be paid out of the Fund.

() Prior to the beginning of September each year, the Corporation shall submit to the Minister an estimate of expenses, including expenses for development projects, for the ensuing year in such form and containing such particulars as may be directed by the Minister; and the Minister shall, before the beginning of the following year, notify the Corporation about the amount authorised for expenditure generally or about the amount allowed for each type of expenditure.
() The Corporation may at any time submit a supplementary estimate for any one year to the Minister and the Minister may allow the whole or any part of the additional expenditure included in the supplementary estimates.
(4) the Minister may direct the Corporation to submit a copy of the estimates or supplementary estimates, as the case may be, to any other public authority as specified in the instructions.
Act statutory bodies (accounts and annual reports) 1980 19. Act statutory bodies (accounts and annual reports) 1980 [Act 240] shall apply to the Corporation and any corporation established under section 4.
Labuan Corporation 19 part V powers other Corporation empowered to borrow 20. (1) the Corporation may from time to time, with the approval of the Minister, borrow, at such rate of interest and for such period and upon such terms as to the time and manner of repayment and otherwise as may be approved by the Minister, any sums required by the Corporation to meet its obligations or discharging any of its duties.
() The Corporation may from time to time, with the approval of the Minister, to borrow money through the issuance of bonds, debentures or stock of any class and value and upon such terms as it thinks expedient, with the approval of the Minister, for all or any of the following purposes: (a) the provision of working capital;
(b) implementation of the functions, the exercise of the powers and discharge the duties of the Corporation under this Act;
(c) the implementation of any additional functions undertaken by the Corporation under this Act;
(d) redemption of any shares or shares that the Corporation is required or entitled to redeem; and (e) any other expenses properly chargeable to capital account.
investment 21. the assets of the Corporation, to the extent that is not required to be expended by the Corporation under this Act, shall be invested in such manner as approved by the Minister.
power to employ 22. The Corporation may employ and pay agents and technical advisers, including advocates and solicitors, bankers, stock brokers, surveyors, valuers and other people, for 0 laws of Malaysia Act 609 carry out any business or do any act required to be performed or done in the performance of its functions, the exercise of its powers or perform its obligations or to carry out the purposes of this act better.
power to grant loans 23. In performing its functions, the exercise of its powers or perform its duties the Corporation may, with the approval of the Minister, provide loans, and the loan may be granted subject to such terms and conditions as deemed by the Corporation, with the approval of the Minister, should be imposed in certain things.
the power to set up Corporation 24. (1) the Corporation may from time to time, with the approval of the Minister, by order published in the Gazette, establish a corporation with any name deemed fit by the Corporation, to exercise and to keep, organize and manage any project, a scheme or enterprise that planned or undertaken by the Corporation in the performance of its functions, the exercise of its powers or perform its duties.
() The provisions of the third Schedule shall apply to every corporation established by the Corporation under subsection (1).
land acquisition 25. (1) upon any land in the Federal territory of labuan, which are not government land, should be taken by the Corporation for the purposes of this Act, the land may be taken in accordance with the provisions of any law in force in the Federal territory of labuan in relation to acquisition of land for a public purpose, and any declaration required by any written law that that land is needed so can be made even if the compensation is payable by the Corporation , and the Declaration shall have effect as if the Declaration was a declaration that the land is required for a public purpose in accordance with the written law.
Labuan Corporation 1 () all expenses and compensation to be paid for the acquisition of any land under this section shall be paid by the Corporation.
() if any land has been taken under this section, the Corporation shall take extract of document of title may be necessary in respect of the land and shall pay any tax imposed upon the land.
Part Vi General obligations of secrecy 26. (1) except for any of the purposes of this Act or for the purpose of any civil or criminal proceedings under any law, there are no members, officers or servants of the Corporation may disclose any information which has been diperolehnya while performing his duties and who is not published in accordance with this Act.
() any person who contravenes subsection (1) shall be guilty of an offence and shall on conviction be imprisonment for a term not exceeding six months or to a fine not exceeding one thousand ringgit or both.
protection of officers and servants 27. no action or prosecution can be brought, instituted or maintained in any court against — (a) the Chief Executive Officer or any officer or other servants who are appointed accordingly under this Act for or for or in respect of any act which is commanded to done or performed for the purpose of implementing this Act; and (b) any other person for or by reason of or in respect of any act done or purporting to be done under orders, instructions or the laws of Malaysia Act 609 instructions the Chief Executive Officer or any officer or other servants who are appointed accordingly under this Act if the act done in good faith and with reasonable believing that the Act necessary for the purposes that are intended to be achieved with it.
public authorities Protection Act 1948 28. public authorities Protection Act 1948 [Act 198] shall apply to any action, suit, prosecution or proceeding against the Corporation or against any Member, officer, servants or agent of the Corporation in respect of any act, neglect or default made or done by him upon such property.
29 public servants. All members, officers and servants of the Corporation, while on their obligations as members, officers and servants of the Corporation, shall be deemed to be public servants within the meaning of the Penal Code [Act 574].
the power to make regulations 30. (1) the Corporation may, with the approval of the Minister, make regulations that expedient or necessary for carrying out the provisions of this act better.
() without prejudice to the generality of subsection (1), regulations may be made — (a) regulate land development wilayahPersekutuan labuan and generally making provision for proper land development in federal territory labuan;
(b) prescribing the manner in which any type of document, check and instrument shall be signed or executed on behalf of the Corporation;
(c) prescribing the responsibilities and control officers and servants of the Corporation;
(d) impose fees in matters specified by the Corporation;
Labuan Corporation (e) to provide for any matter relating to shares, stocks, bonds, debentures or debenture stock issued under this Act that is found by the Corporation necessary or expedient, and, in particular, to regulate the methods of production, transfer, redemption or business relating to shares, stocks, bonds, debentures or debenture stocks it;
(f) prescribing the rates of contribution for the improvement of service;
(g) prescribing the manner in which and the terms and conditions with which a loan can be given by the Corporation under section; and (h) provide generally on the implementation of functions, the exercise and discharge of the duties of the Corporation under the provisions of this Act.
() The regulations under this section — (a) may provide that any act or omission that contravenes any of the provisions of the rule to be an offence;
(b) may provide for the imposition of penalties for the offence and the penalty shall not exceed five hundred thousand dollars;
(c) may provide for the imposition of penalties up to fifty percent for similar offences a revenue; and (d) may provide for the compounding of an offence under this Act and the regulations.
Part Vii Repeal, savings and transitional interpretation in relation to part Vii 31. In this section, unless the context otherwise requires — "the repealed Act" means the labuan Development Board Act 199 [480 Act] which repealed under section;
4 laws of Malaysia Act 609

"days of ' ' means the day this Act comes into force or, if a different date fixed for different provisions in this Act, the day this section comes into operation;
"the Board disbanded" means the labuan development authority that dissolved under section;
"the dissolution of the Council" means the labuan Municipal Council which was dissolved under section;
"Instrument which revoked" means Instrument labuan Municipal Council [Sabah No. 198 S34 1983] which is cancelled under section.
abolition and liquidation of 32. (1) the labuan Development Authority Act 199 is repealed and the order of the labuan Development Authority (the exercise of the power by the labuan Municipal Council) Regulations 1997 [P.U. (A) 241/1997] and the labuan Municipal Council Instrument 198 is cancelled.
the labuan Development Authority () established under the repealed Act and the labuan Municipal Council established under the instrument which revoked is dissolved.
the transfer of power, etc.
33. the powers, rights, privileges, liabilities, obligations and obligations before the appointed day is power, rights, privileges, liabilities, obligations and duties of the Board dissolved and disbanded Council shall from that day down to the Corporation.
the transfer of the property title 34. (1) all land before days vested in, or reserved under any written law relating to land for the purpose, the Board of Labuan Corporation 5 disbanded and the Council shall be dissolved on the day specified vested in or be deemed to be reserved for the purposes of the Corporation.
() All property and assets other than land before days vested in Board dissolved and the Council dissolved or in any person on behalf of the Board disbanded disbanded Council or, as the case may be, shall on the day specified vested in the Corporation.
() All deeds, agreements, instruments and arrangements that existed before the days and affecting any property that has been transferred under this section shall have effect and the full effects against or in favour of the Corporation and may be enforced fully and effectively as if, in lieu of the Board disbanded or disbanded Council or any person acting on behalf of the Board disbanded or disbanded Council , Perbadananlah named it or become a party to it.
the transfer of the money to fund 35. (1) all money in or payable into the Fund Board dissolved shall days transferred to and be deemed to be part of the Fund.
() the Fund set up under the local Government Ordinance of Sabah [Ord. Sabah 11 1961] by the Council which dissolved was dissolved and all moneys in or payable into the Fund on the day specified transferred to and be deemed to be part of the Fund.
membership of the Board dissolved and disbanded Council 36. (1) Notwithstanding any provision to the contrary, the person who held office immediately before the appointed day as a member of the Board disbanded and the 6 laws of Malaysia Act 609 disbanded and members of any Committee appointed under the instrument which revoked shall cease to hold office on the day specified.
() there is nothing in subsection (1) may affect the accountability of members of the Board dissolved and disbanded the Council cease to hold office.
() As quick as practicable after the appointed day, the Board disbanded and dissolved the Council shall prepare and submit to the Minister a report, including financial statements, required under the repealed Act or the local Government Ordinance of Sabah for the period from 1 January of the year concerned until days before days.
(4) Notwithstanding section, Board dissolved and disbanded Council shall be deemed to continue to exist for the purposes of subsection () and ().
continuation of officers and servants 37. the person who immediately before the appointed day has worked as officers and servants of the Board dissolved or disbanded Council shall be the officers and servants of the Corporation under this act as if that person had been appointed under subsection 11 (1) of this act upon the same terms and conditions as applicable to the person immediately before days.
continuation of application, etc., pending 38. (1) all applications, approval or decision, on appeal or otherwise, which is pending before the Board disbanded the Council or shall be dissolved on the day set managed by the Corporation under this Act and related laws.
() All the instrument, certificate or document lodged with the Board disbanded the Council dissolved before or days shall be on the day specified deemed to have been lodged with the Corporation and shall continue to be kept by the Corporation.
Labuan Corporation 7 () any proceedings, whether civil or criminal, or cause of action is pending or that existed before the appointed day by or against the Board disbanded or disbanded Council or any person acting on behalf of the Board disbanded or disbanded Council can be continued or commenced by or against the Corporation as it may be continued or commenced by or against the Board dissolved disbanded Council or such person if the Act is not made.
(4) any appeal brought or any permission to appeal applied for on or after the day that is fixed against the decision rendered before that day in any legal proceedings to which the Board disbanded or Council disbanded a party may be taken or applied by or against the Corporation.
sound in law or document 39. (1) a reference in any law or document about the Board disbanded the Council or dissolved shall be construed as a reference to the Corporation.
() A reference in any law or document about the Chairman of the Board disbanded or disbanded Council President shall be construed as a reference to the Chairman of the Corporation.
8 laws of Malaysia Act 609 first schedule [Subsection 5 (5)] the appointment, revocation and resignation 1. (1) subject to any conditions specified in the instrument of appointment, a member of the Corporation shall hold office for a term not exceeding three years and are eligible for re-election.
() The appointment of any Member may at any time be revoked by the Minister without assigning any reason for the revocation.
() A member may at any time resign his Office by letter addressed to the Minister.
Member of the Corporation should devote time to the business of the Corporation 2. every Member of the Corporation should devote time to the business of the Corporation as may be necessary to perform his duties effectively.
vacation of Office 3. the Office of a member of the Corporation shall be vacated: (a) if he dies;
(b) if there has been proved against him, or if he has been convicted of, a charge in respect of — (i) an offence involving fraud, dishonesty or moral turpitude;
(ii) an offence under any law relating to corruption or under section 6; or (iii) any other offence punishable with imprisonment (whether imprisonment only, or in addition to a penalty or in lieu of a fine) for more than two years;
(c) if he becomes bankrupt;
(d) if he is of unsound mind or, for any other reason, unable to perform his duties;
(e) if he fails to attend three consecutive meetings of the Corporation without the consent of the Chairman;
(f) if his resignation is accepted by the Minister; or (g) if his appointment is revoked by the Minister.
Labuan Corporation 9 filling vacancy 4. When any person cease to be a member of the Corporation by virtue of any provision of this Act, the Minister may appoint another person to fill the vacancy.
remuneration or allowance 5. There shall be paid to members of the Corporation such remuneration or allowance as determined by the Minister.
6 meeting. (1) the Corporation shall meet a minimum of two months at a time and at the place determined by the Chairman.
() The Chairman shall preside at meetings of the Corporation.
() a quorum of the Corporation is four people.
(4) every Member of the Corporation who shall be entitled to one vote.
(5) in the event of a question to be determined by the Corporation, there are the same number of votes, the Chairman shall have the casting vote.
the Corporation may invite others to meetings 7. The Corporation may invite any other person to attend any meeting or deliberation of the Corporation for the purpose of advising it on any matter under discussion, but the person invited shall not be entitled to vote at the meeting or deliberation.
Common seal

8. (1) The Corporation shall have a common seal which shall contain any designs approved by the Corporation and such seal may be broken, changed, altered or made anew as the Corporation thinks fit.
() Until a seal is provided by the Corporation, a stamp bearing the words "Corporation" may be used and shall be deemed to be the common seal of the Corporation.
() the common seal shall be kept in the custody of the Chairman or any other person authorized by the Corporation, and shall be authenticated by the Chairman or by the authorized person or by any officer authorized by either of them for 0 laws of Malaysia Act 609 writing; and all deed, document or instrument purporting to be sealed with the seal, certified as specified in this subparagraph, shall be deemed to have been validly executed until the contrary is proved.
(4) Notwithstanding subparagraph (), any document or instrument which if executed by a person not being a body corporate shall not be required to be sealed may be executed by the Corporation similar manner; and any other document or instrument may be executed on behalf of the Corporation by any officer or authorised servants of the Corporation generally or specially by the Corporation for that purpose.
(5) the seal of the Corporation shall be officially and judicially noticed.
disclosure of interest 9. A member of the Corporation, directly or indirectly, himself or by his partner, an interest in any company or joint venture which the Corporation proposes to make any contract or who has any interest in any contract or in any matter under discussion by the Corporation shall disclose the fact and the nature of the interest to the Corporation and the disclosure shall be recorded in the minutes of the Corporation and , unless specifically authorized by the Chairman, the Member cannot take part in any discussion or decision of the Corporation relating to the contract or that matter.
Minutes 10. (1) the Corporation shall cause minutes of all its meetings to be maintained and stored in a proper form.
() any minutes made of meetings of the Corporation, if duly signed, is admissible in evidence in all legal proceedings without further proof.
() every meeting of the Corporation with respect to its proceedings minutes were made in accordance with subparagraph (1) and () shall be deemed to have been duly convened and held and all members of the meeting have been duly qualified to act.
validity of acts and proceedings 11. No act done or proceeding taken under this Act may be questioned on the ground that — (a) any vacancy in the membership of, or any defect in the establishment of, the Corporation;
Labuan Corporation 1 (b) contravention of paragraph 9 by any member of the Corporation; or (c) there is any omission, defect or ketidakteraturan that are not touching the merits of it.
procedure 12. subject to this Act, the Corporation shall fix its own procedure.
Second Schedule [Subsection 6 ()] the appointment, revocation and resignation 1. (1) subject to any conditions specified in the instrument of appointment, a member of the Advisory Council shall hold office for a term not exceeding three years and are eligible for reappointment.
() The appointment of any member of the Advisory Council may at any time be revoked by the Minister without assigning any reason for the revocation.
() A member of the Advisory Council may at any time resign his Office by letter addressed to the Minister.
(4) every Member of the Advisory Council should devote time to the business of the Advisory Council as much as necessary to meet their obligations-obligations effectively.
vacation of Office 2. (1) the Office of a member of the Advisory Council shall be empty — (a) if he dies;
(b) if there has been proved against him, or if he has been convicted of, a charge in respect of — (i) an offence involving fraud, dishonesty or moral turpitude;
(ii) an offence under any law relating to corruption or under section 6; or laws of Malaysia Act 609 (iii) any other offence punishable with imprisonment (whether imprisonment only, or in addition to a penalty or in lieu of a fine) for more than two years;
(c) if he becomes bankrupt;
(d) if he is of unsound mind or, for any other reason, unable to perform his duties;
(e) if he fails to attend meetings of the Advisory Council three times consecutive-also without the permission of the Chairman;
(f) if his resignation is accepted by the Minister; or (g) if his appointment is revoked by the Minister.
() if any person ceases to be a member of the Advisory Council by virtue of any provision of this Act, another person shall be appointed to replace it under subsection 6 (1).
remuneration or allowance 3. There shall be paid to members of the Advisory Council or any other people (who are not officers or servants of the Corporation) any remuneration or allowance as the Minister may determine.
Meeting 4. (1) the Advisory Council shall meet at least every two months at a time and at the place determined by the Chairman.
() The Chairman shall preside at meetings of the Advisory Council.
() a quorum of the Advisory Council was five people.
(4) every Member of the Advisory Council present shall have the right to one vote.
(5) in the event of a question to be determined by the Advisory Council there is the same number of votes, the Chairman shall have the casting vote.
disclosure of interest 5. A member of the Advisory Council, directly or indirectly, himself or by his partner, any interest in any company or effort thereto the Corporation proposes to make any contract or have had any interest in any contract or in any matter under discussion by the Advisory Council shall disclose the fact and the nature of his interest to the Advisory Council , and disclosure of Labuan Corporation shall be recorded in the minutes of the Advisory Council and, unless specifically authorized by the Chairman, the Member cannot take part in any discussion or decision of Advisory Council relating to the contract or that matter.
Minute 6. (1) the Advisory Council shall cause minutes of all its meetings to be maintained and stored in a proper form.
() any minutes made of meetings of the Advisory Council, if duly signed, is admissible in evidence in all legal proceedings without further proof and every meeting of the Advisory Council with respect to its proceedings: has been so made shall be deemed to have been duly convened and held and all members of the meeting have been duly qualified to act.
validity of acts and proceedings 7. No act done or proceeding taken under this Act may be questioned on the ground that — (a) any vacancy in the membership of, or any defect in the establishment of the Advisory Council;
(b) a contravention of paragraph 5 by any member of the Advisory Council; or (c) there is any omission, defect or ketidakteraturan that are not touching the merits of it.
procedure 8. subject to this Act, the Advisory Council shall establish its own procedure.
Third Schedule [Subsection 4 ()] the powers of the Corporation to make regulations in respect of the Corporation 1. The Corporation shall, on or before the date on which any corporation established under section 4, make regulations with respect to the Corporation that determine — (a) the purpose and objectives of the Corporation is established;
(b) the rights, powers, duties and functions of the Corporation;
4 laws of Malaysia Act 609 (c) the Corporation management system; and (d) the relationship between the Corporation and the Corporation the Corporation control rights over the Corporation.
limitations of the power to establish the Corporation 2. Nothing in paragraph 1 shall be deemed to give the Corporation the power to make regulations for assigning any corporation for any purpose or purposes of wider public lingkupnya of meaning or purpose for which the Corporation was formed or give any Corporation any rights, duties, powers or functions not included in the rights, duties, powers or functions of the Corporation under this Act.
effective regulations 3. subject to the provisions of this Act and any regulations made under section 0, something the Corporation shall be bound by any rules made therefor under paragraph 1 and the rules shall become effective for all purposes as if they had been made in this Act.
Amendment of regulations 4. The Corporation may at any time amend, cancel, or add to any regulations made under paragraph 1 in respect of any corporation.
Express Corporation

5. The Corporation shall keep a register in the prescribed form of all Corporation established by him under section 4 and that, together with a copy of all regulations made under paragraphs 1 and 4, shall be open to public inspection at the place or places and at any time as may be determined by him.
winding up 6. (1) the Corporation may, with the approval of the Minister, by order published in the Gazette, winding-up and dissolve any corporation established by it.
() upon the dissolution of any corporation under this paragraph, the assets of the Corporation shall be transferred to and vested in the corporation upon all liabilities met.
() The winding up of a corporation under this paragraph shall be conducted in such manner as may be prescribed by the Corporation.
Labuan Corporation 5 Corporation shall be a body corporate 7. every corporation established under section 4 shall be a body corporate with any name provided by the Corporation and shall have perpetual succession and a common seal and may sue and be sued in the name of that and, for the purpose of implementing the project, scheme or Enterprise for which the Corporation was incorporated, can enter into contracts and can hold and make any arrangement in respect of any immovable property or movable property and be able to do all things and things other incidental or related to a body corporate in accordance with the provisions of this Act and subject to such restrictions or limitations as may be prescribed by the Corporation in each case.
Seal of the Corporation 8. (1) every corporation shall have a common seal which shall bear such a design approved by the Corporation with the approval of the Corporation and such seal may be broken, changed, altered or made anew as it deems fit by the Corporation with the approval of the Corporation.
() Until a seal is provided by the Corporation, a stamp bearing the name of the Corporation encircling the letters "Pl" may be used and shall be deemed to be the common seal of the Corporation.
() the common seal shall be kept in the custody of the person authorized by the Corporation and shall be authenticated by the person; and all deeds, documents and other instruments purporting to be sealed with the seal, authenticated as specified in this subparagraph, shall be deemed to have been validly executed until the contrary is proved.
(4) Notwithstanding subparagraph (), any document or instrument which if executed by a person not being a body corporate shall not be required to be sealed may be executed in a manner similar to that provided by the Corporation; and any other document or instrument may be executed on behalf of the Corporation by any officer or servants of the corporation authorized generally or specially by the Corporation for that purpose.
(5) the common seal of every corporation shall be officially and judicially noticed.
6 laws of Malaysia Act 609 laws of Malaysia Act 609 labUan Corporation Act 2001 List Amendment law short title force amend from – no – Labuan Corporation 7 laws of Malaysia Act 609 labUan Corporation Act 2001 List Section amended Section power amend with effect from – there are –