Section 50
of Labuan Foundations Act 2010
ActIn forceProvision 50 of 117
Section 50
(1)
A Labuan foundation duly registered under this Act is a body corporate and may sue and be sued in its corporate name.
(2)
Subject to this Act and the provisions of its constituent document, a Labuan foundation has the capacity, rights, powers, and privileges of an individual person.
(3)
The charter of a Labuan foundation may contain provisions restricting its capacity, rights, powers and privileges.
(4)
Notwithstanding subsection (3), the validity of an act done by a Labuan foundation shall not be called into question on the ground of lack of capacity by reason of anything contained in its charter.
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