Section 41
Secretary
of Labuan Foundations Act 2010
ActIn forceProvision 41 of 117
Section 41
(1)
The founder shall, before the registration of a Labuan foundation, appoint a person, who shall be a company registered as a Labuan trust company under Part V of the Labuan Financial
Services and Securities Act 2010 [Act 704], to be the secretary of the proposed Labuan foundation.
(2)
The secretary may be a council member at the same time provided that the secretary shall not be the sole council member.
(3)
The secretary shall have the duties, powers and obligations provided for in this Act including accepting service of all documents in respect of legal proceedings against the Labuan foundation which may be served on the Labuan foundation.
Labuan Foundations 33