ja_mageia_template_j15

Unlike its domestic counterpart, there is no provision in the OCA 1990 that the first members’ meeting must be held within 18 months from the date of incorporation and subsequently within 15 months. A meeting of members may be convened in such manner, time and place within or outside Labuan as the directors consider necessary or desirable. Therefore it is possible that an offshore company not even hold a members’ meeting in any particular year. A meeting of members may also be convened on a request of ten or more members or members holding not less than one-tenth of the total paid up capital of the company. A meeting may be conducted by members either by attending in person, by participating by telephone or other electronic means.