65. Labuan trust company’s power to act as executor

Where a Labuan trust company is appointed either alone or jointly with any other person as executor in the last will of a testator or in a codicil thereto, regardless of when the will or codicil was made, the Labuan trust company may act as executor and may apply for probate of such will and any codicil thereto, and may do and discharge all the acts and duties of an executor as fully and effectively as any other executor.