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Labuan Foundations Act 2010 · Updated to 23 Apr 2025 · Part V · Council, Officers and Secretary

25. Appointment of council

(1)

The charter of a Labuan foundation may provide for the appointment of a council which shall consist of one or more members who may be a natural person or corporation.

(2)

Prior to the registration of the Labuan foundation, the council member may be appointed by the founder.

(3)

Upon the registration of the Labuan foundation, the council member may be appointed by the founder or such other person as may be empowered by the founder in the charter or articles of the Labuan foundation.

(4)

A founder or beneficiary who is not an officer of the Labuan foundation may be appointed as a council member.

(5)

The appointment of a council member of a Labuan foundation shall not be effective unless he has delivered to the founder or the

34 Laws of Malaysia person appointing him, as the case may be, his consent in writing to such appointment.

Terms defined in s 2

articles
Defined · s 2
“articles” means the articles of a Labuan foundation provided for in section 10;
Open s 2
beneficiary
Defined · s 2
“beneficiary” means a person designated as a beneficiary under the provisions of the constituent document of a Labuan foundation;
Open s 2
charter
Defined · s 2
“charter” means the charter of a Labuan foundation provided for in section 8;
Open s 2
corporation
Defined · s 2
“corporation” means any body corporate, formed or incorporated, or existing within or without Malaysia and includes any foreign Labuan company but does not include— (a) any corporation sole; (b) any trade union registered under any written law as a trade union; and (c) any society registered under any written law relating to co-operative societies;
Open s 2
founder
Defined · s 2
“founder” means the person who subscribes his name to the charter establishing a Labuan foundation acting either for himself or on behalf of another person and who, by transfer of title, endows that Labuan foundation with its initial assets;
Open s 2
Labuan
Defined · s 2
“Labuan” means the Federal Territory of Labuan;
Open s 2
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 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;
Open s 2
officer
Defined · s 2
“officer” means the officer of a Labuan foundation appointed in accordance with section 35;
Open s 2
person
Defined · s 2
“person” includes a corporation, a partnership, a body of persons, corporate or unincorporated, and a corporation sole;
Open s 2

Report

Read on from s 26

Part VI

Capacity of Labuan Foundation

Read on from Part VI

Part VII

Beneficiaries

Read on from Part VII

Part VIII

Dissolution

Read on from Part VIII

Part IX

General Provisions

Read on from Part IX