Malaysia legislation
Section 50
Section 50
(2)
Subject to this Act and the provisions of its constituent document, a Labuan foundation has the capacity, rights, powers, and privileges of an individual person.
(3)
The charter of a Labuan foundation may contain provisions restricting its capacity, rights, powers and privileges.
(4)
Notwithstanding subsection (3), the validity of an act done by a Labuan foundation shall not be called into question on the ground of lack of capacity by reason of anything contained in its charter.
Labuan Foundations 37
Ratification of act done beyond capacity