Labuan Offshores Trusts Act 1996 · Updated to 1 Dec 2011 · Part I · Preliminary
6A. Administration of the Act
Official textFrom Laws of Malaysia Online, unchanged
The Authority is responsible for the administration of this Act, subject to the general directions and control of the Minister.
Authority
―Authority‖ means the Labuan Financial Services Authority established under section 3 of the Labuan Financial Services Authority Act 1996;
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Malaysia
―Malaysia‖ means the territories of the Federation of Malaysia, the territorial waters of Malaysia and the sea-bed and subsoil of the Labuan Trusts 9 territorial waters, and includes any area extending beyond the limits of the territorial waters of Malaysia, and the sea-bed and subsoil of any such area, which has been or may hereafter be designated under the laws of Malaysia and in accordance with international law as an area over which Malaysia has sovereign rights for the purposes of exploring and exploiting the natural resources, whether living or non-living;
Terms defined in s 2
Authority
Defined · s 2―Authority‖ means the Labuan Financial Services Authority established under section 3 of the Labuan Financial Services Authority Act 1996;
Malaysia
Defined · s 2―Malaysia‖ means the territories of the Federation of Malaysia, the territorial waters of Malaysia and the sea-bed and subsoil of the Labuan Trusts 9 territorial waters, and includes any area extending beyond the limits of the territorial waters of Malaysia, and the sea-bed and subsoil of any such area, which has been or may hereafter be designated under the laws of Malaysia and in accordance with international law as an area over which Malaysia has sovereign rights for the purposes of exploring and exploiting the natural resources, whether living or non-living;
Minister
Defined · s 2―Minister‖ means the Minister for the time being charged with the responsibility for finance;
Part II
Creation and Recognition of Labuan Trusts
Part III
Beneficiaries of Labuan Trusts
Part IV
Trustees of Labuan Trusts
Part V