6. Beneficiaries under Labuan foundation

Terms defined in s 2

• Labuan

  Labuan

  Defined · s 2

  “Labuan” means the Federal Territory of Labuan;

  Open s 2
• resident

  resident

  Defined · s 2

  “resident” means any person— (a) who is a citizen or permanent resident of Malaysia; or (b) who has established a place of business and is operating in Malaysia, other than a Labuan company or a foreign Labuan company incorporated or registered under the Labuan Companies Act 1990, a Labuan foundation established under this Act, a partnership registered under the Labuan Limited Partnerships and Limited Liability Partnerships Act 2010, and includes a person who is declared to be a resident pursuant to section 43 of the *Exchange Control Act 1953;

  Open s 2