35. Appointment of officers

Terms defined in s 2

• beneficiary

  beneficiary

  Defined · s 2

  “beneficiary” means a person designated as a beneficiary under the provisions of the constituent document of a Labuan foundation;

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• corporation

  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;

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• founder

  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;

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• Labuan

  Labuan

  Defined · s 2

  “Labuan” means the Federal Territory of Labuan;

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• officer

  officer

  Defined · s 2

  “officer” means the officer of a Labuan foundation appointed in accordance with section 35;

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• person

  person

  Defined · s 2

  “person” includes a corporation, a partnership, a body of persons, corporate or unincorporated, and a corporation sole;

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