Section 89 of the Labuan Limited Partnerships And Limited Liability Partnerships Act 2010 grants the Minister the power to make regulations under the Act's provisions.
The regulations may prescribe any matters or things required or authorised by the Act or that are necessary or convenient for carrying out or giving effect to the Act's provisions.
The regulations made under this Act may define an act or omission that contravenes the regulations as an offence.
The regulations may impose penalties for such offences, including a fine not exceeding twenty-five thousand ringgit, imprisonment for a term not exceeding three years, or both.
Labuan Limited Partnerships And Limited Liability Partnerships (Amendment) Regulations 2022
We wish to inform all our clients and stakeholders that the Labuan Limited Partnerships and Limited Liability Partnerships (Amendment) Regulations 2022 [P.U. (A) 376/2022] have been made by the Minister on the recommendation of the Authority, pursuant to the powers conferred by subsection 89(1) of the Labuan Limited Partnerships and Limited Liability Partnerships Act 2010 [Act 707].
The regulations, which may be cited as the Labuan Limited Partnerships and Limited Liability Partnerships (Amendment) Regulations 2022, will come into operation on 1 January 2023.
The Labuan Limited Partnerships and Limited Liability Partnerships Regulations 2010 [P.U. (A) 419/2010] have been amended by substituting for the Third Schedule the following schedule:
If you have any questions or concerns about the Labuan Limited Partnerships and Limited Liability Partnerships (Amendment) Regulations 2022, please do not hesitate to contact us.
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