Labuan Offshores Trusts Act 1996 · Updated to 1 Dec 2011 · Part V · Miscellaneous
Labuan Offshores Trusts Act 1996 · Updated to 1 Dec 2011 · Part V · Miscellaneous
Official textFrom Laws of Malaysia Online, unchanged
prohibiting the registration or creation or recognition of any trust or enforcement of any trust under this Act; or
directing any Labuan trust to cease to carry on its business or part of its business either immediately or within such time as may be specified in the direction.
A direction made under this section may be revoked or varied by the Minister.
business
―business‖, in relation to a company, includes the holding of shares or other assets and non-commercial activities;
Labuan trust
―Labuan trust‖ has the meaning assigned to it under subsection 8(1);
Minister
―Minister‖ means the Minister for the time being charged with the responsibility for finance;
specified
―specified‖, where no mode is mentioned in this Act, means specified from time to time in writing, and a power to specify includes the power to specify differently for different persons or different classes, categories or description of persons;
trust
―trust‖ includes the trust property and the rights, powers, duties, interests, relationships and obligations under a trust;