| Secrecy provisions |
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Except in the case of criminal proceedings, all proceedings relating to an offshore company shall be heard in camera[1] and no details shall be published by any person without leave of the Court.[2]
In a proceeding for winding up of an offshore company, the Court may order that the records, books and registers of the company and the entries in the Registrar’s register be open to the public for inspection. Such order may be made if the Court is satisfied that the company or its officer has failed to comply with any provision of the OCA 1990. Such a disclosure order can also be made by the Court if an offshore company or any of its officers is convicted by the Court of an offence under the OCA 1990.
No person shall, in Labuan or elsewhere, divulge, attempt or threaten to divulge and induce or attempt to induce another person to divulge any information concerning or touching upon the following in relation to an offshore company, for which he shall be guilty of an offence;:
a) the shareholding in or beneficial ownership of any shares in such company; b) the management of such company; and c) any of the business, financial or other affairs or transactions of the company.
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