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1. |
Conditions and provisions related to LMW licensing
LMW Company is subject to comply with:
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a. |
License conditions as per Appendix C, |
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b. |
Legislation and Regulations governed by the Department, |
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c. |
Conditions of approval for any facility granted, |
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d. |
Other requirements from time to time. |
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2. |
Statement |
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2.1 |
LMW Company must submit the following statement as required: |
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a. |
Appendix H – Subcontract Works Monthly Statement |
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b. |
Appendix M1 – Raw Material / Component / Accessory / Packaging Material Monthly Statement |
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c. |
Appendix M2 – Finished Goods Monthly Statement |
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d. |
Appendix M3 - Monthly Statement of IPC / RDC Activity
The above statements must be submitted before 28th, of the following month |
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e. |
Appendix M4 – Licensed Manufacturing Warehouse Annual Statement
The M4 statement must be submitted before 31st January of the following year. The statement shall be accompanied by the Company's Annual Financial Report which has been audited by an Independent Auditor. However, if the Company's Annual Financial Report does not match with the period of annual statement, the Company' s Annual Financial Report must be submitted to customs within 30 days after the year end of the company's financial year. |
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2.2 |
The above statements shall be certified and signed by the company accountant or other officer authorized by the company. The statement can be submitted in the form of softcopy. |
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2.3 |
For LMW companies with Authorised Economic Operator (AEO) status, the relevant statements (M1, M2, M3 and M4) must also be prepared. However, it must be submitted to the customs as when is required by the customs officer in charge. |
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3. |
Notification to the Customs Controlling Station. |
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3.1 |
LMW Company shall notify the customs officer in charge of the company in writing within 14 days upon the following occurrences; |
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a. |
Changes in Company’s Board of Directors. |
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b. |
A resolution to winding up the company. |
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c. |
An order to winding up the company. |
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d. |
The appointment of a liquidator or official receiver has been made. |
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e. |
The company is involved in any civil case, bankruptcy and other claims. |
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3.2 |
LMW Company shall notify the customs officer in charge immediately upon the occurrence of the following matters to the duty / tax exempted goods; |
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a. |
Fire, destruction and natural disasters. |
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b. |
Loss and theft. |
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3.3 |
Cessation of Company Operations. |
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a. |
LMW Company must notify the customs officer in charge in writing when they wish to cease the company's operations. |
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b. |
If the company still has raw materials, finished goods, and machinery less than 10 years, the duty / tax (if any) must be paid in advance. |
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3.4 |
Changes in business related matters. |
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LMW Company is responsible to report any changes to the customs officers in charge such as follows; |
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a. |
Building structure, |
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b. |
Approved plan, |
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c. |
List of finished goods released, |
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d. |
Unusual business model, |
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An appropriate action will be taken to LMW company based on existing provisions and regulations if changes made without prior approval. |
