serious offence involving fraud or dishonesty "serious offence involving fraud or dishonesty" means an offence that is punishable by imprisonment for a term that is not less than two years or, where there is a loss of the value of assets derived or likely to be derived suffered by the company, member or debenture holder from the commission of such an offence, the loss exceeds two hundred and fifty thousand ringgit; ACT 441 - LABUAN COMPANIES ACT 1990 2. Interpretation.