Labuan Foundations Act 2010 · Updated to 23 Apr 2025 · Part V · Council, Officers and Secretary
Section 40
Feedback & supportExcept where the charter otherwise provides, the officers of the Labuan foundation shall be remunerated in accordance with the duties they are required to perform and taking into account the financial position of the Labuan foundation.
charter
“charter” means the charter of a Labuan foundation provided for in section 8;
40 Laws of Malaysia
Malaysia
“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;
Any dispute in respect of the amount of the remuneration of an officer of a Labuan foundation may be referred by the officers, or an officer, or the council, or the approved auditor, to the Court, which shall determine that remuneration.
officer
“officer” means the officer of a Labuan foundation appointed in accordance with section 35;
Secretary
secretary
“secretary” means a Labuan Trust company appointed as secretary in accordance with section 41;