Labuan Foundations Act 2010 · Updated to 23 Apr 2025 · Part VI · Capacity of Labuan Foundation
55. Liability of council member, supervisory person, officer and secretary
Feedback & supportNo council member, supervisory person, officer or secretary of a Labuan foundation shall be personally responsible for any liability of a Labuan foundation unless such liability had been incurred as a result of his own gross negligence, wilful default or misconduct, fraud or dishonesty.
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;
Subject to section 56, any provision contained in the constituent document or in any contract with the Labuan foundation or otherwise, which exempts any council member, supervisory person, officer or secretary of the Labuan foundation or indemnify him against, any liability which by virtue of any rule of law would otherwise attach to him in respect of any negligence, default, misconduct or breach of duty of which he may be guilty in relation to the Labuan foundation, shall be void.
constituent document
“constituent document” means the charter and the articles, of a Labuan foundation;
50 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;