Pursuant to section 110 and section 111 of Labuan Companies Act 1990 (LCA) pertaining the accounts and audit, Labuan Financial Services Authority (“Labuan FSA”) wish to remind ALL LABUAN COMPANIES to comply with the submission deadlines as stated in section 111 of LCA, Labuan Financial Services and Securities Act 2010, Labuan Islamic Financial Services and Securities Act 2010 and relevant guidelines.
All Labuan companies, including licensed institutions, under your management that are subject to audits are required to submit its audited account through COR@L with immediate effect. Please ensure the scanned copies are clear and in orderly manner in every lodgement.
Kindly be reminded that failure in complying with this section, will result to, or any other legal action as to the extent permitted by law. Take notice that in the event you deliberately failed, refused, or omit to provide explanation to the satisfactory of Labuan FSA, and/or failed to remedy the default, we may proceed to invoke the provision of Section 36G of Labuan Financial Services Authority Act 1996, to impose Administrative Penalty for each default against you without further notice.
Should you need further information on this matter, please contact ROC Unit, roc@labuanfsa.gov.my and Supervision and Monitoring Department (for licensed institutions) at sed@labuanfsa.gov.my.
Thank you.