Section 70
Delegation to Labuan trust company
of Labuan Financial Services and Securities Act 2010
ActIn forceProvision 70 of 201
Section 70
(1)
It shall be lawful for any executor, administrator, trustee or agent to delegate by deed or in writing to a Labuan trust company either alone or together with any other company or person, as his attorney, all such trusts and powers as may be lawfully delegated by him.
(2)
All acts done by the Labuan trust company as such delegatee shall, as against any person dealing with the Labuan trust company without notice of the revocation of such authority by such executor, administrator, trustee or agent, be valid and effectual notwithstanding such revocation.