Labuan Foundations Act 2010 · Updated to 23 Apr 2025 · Part IV · Registration of Labuan Foundation
24D. Duty of beneficial owner of Labuan foundation to provide information
Feedback & supportA person who has reason to believe that he is a beneficial owner of a Labuan foundation shall within thirty days—
person
“person” includes a corporation, a partnership, a body of persons, corporate or unincorporated, and a corporation sole;
notify the Labuan foundation that he is a beneficial owner of the Labuan foundation; and
provide information as may be specified by the Authority.
A person who is a beneficial owner of a Labuan foundation shall, within thirty days, notify the Labuan foundation of any changes in his particulars in the register of beneficial owners of the Labuan foundation.
A person who has ceased to be a beneficial owner of a Labuan foundation shall notify the Labuan foundation, as soon as practicable, of the change by stating—
the date the cessation occurred; and
the particulars of the cessation.
Any person who fails to comply with this section, commits an offence and shall, upon conviction, be liable to a fine not exceeding fifty thousand ringgit.