Labuan Offshores Trusts Act 1996 · Updated to 1 Dec 2011 · Part IV · Trustees of Labuan Trusts
Labuan Offshores Trusts Act 1996 · Updated to 1 Dec 2011 · Part IV · Trustees of Labuan Trusts
Official textFrom Laws of Malaysia Online, unchanged
The primary purpose of this Part is to enable a trust of company shares to be established under which—
trust
―trust‖ includes the trust property and the rights, powers, duties, interests, relationships and obligations under a trust;
the shares may be retained indefinitely; and
the management of the company may be carried out by its directors without any power of intervention being exercised by the trustee.
company
―company‖, in relation to designated shares, means a Labuan company or a Labuan limited liability partnership established under the Labuan Limited Partnerships and Limited Liability Partnerships Act 2010 that has issued the designated shares;
company
―company‖, in relation to designated shares, means a Labuan company or a Labuan limited liability partnership established under the Labuan Limited Partnerships and Limited Liability Partnerships Act 2010 that has issued the designated shares;
trust
―trust‖ includes the trust property and the rights, powers, duties, interests, relationships and obligations under a trust;
trustee
―trustee‖ means a person appointed to act as a trustee of a trust in accordance with the provisions of this Act;
Part V