Malaysia legislation
Section 69
Section 69
(2)
In the absence of a provision to the contrary in the constituent document of the Labuan foundation, where there is more than one remaining beneficiary entitled to receive the remaining property, the remaining property shall be divided equally between them.
(3)
Any remaining property shall be dealt with in accordance with any law relating to unclaimed moneys as may be in force in Malaysia in the event that—
(a)
there is no beneficiary who is entitled to receive the remaining property of the Labuan foundation as provided in subsection (1);
(b)
the beneficiary who is entitled to receive the remaining property refuses to accept the transfer of the remaining property; or
(c)
there is no relevant provision in the constituent document of the Labuan foundation.