Labuan Foundations Act 2010 · Updated to 23 Apr 2025 · Part VI · Capacity of Labuan Foundation
52. Power of officers to bind the Labuan foundation
Feedback & supportA party to a transaction with a Labuan foundation is not bound to enquire as to whether the transaction is a transaction permitted by the constituent document of the Labuan foundation or as to any limitation on the powers of the council or officers to bind the
Labuan foundation or to authorize others to do so.
Subsection (1) shall not affect any right of any council, council member or supervisory person, or officer of a Labuan foundation, as the case may be, to bring proceedings to restrain the doing of any act which is beyond the powers of the officers.
supervisory person
“supervisory person” means any person or body of persons having supervisory powers over the Labuan foundation and is appointed under the charter of the Labuan foundation;
Subsection (1) shall not affect any liability incurred by the officers of a Labuan foundation or any other person, by reason of the officers exceeding their powers.
person
“person” includes a corporation, a partnership, a body of persons, corporate or unincorporated, and a corporation sole;