Labuan Foundations Act 2010 · Updated to 23 Apr 2025 · Part VII · Beneficiaries
Section 66
Feedback & supportExcept where the constituent document otherwise provides—
constituent document
“constituent document” means the charter and the articles, of a Labuan foundation;
60 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;
the officers acting unanimously may delegate to any one of themselves by a document signed by each of them, the power of the officers to authorize a distribution to a beneficiary; and
beneficiary
“beneficiary” means a person designated as a beneficiary under the provisions of the constituent document of a Labuan foundation;
the power so delegated under paragraph (a) shall be exercised as provided for in the document of delegation.
Subsection (1) shall apply to the officer to whom the power is delegated in the exercise of that power as if the reference in that subsection to the officer exercising the delegated power was a reference to the officers acting jointly.
officer
“officer” means the officer of a Labuan foundation appointed in accordance with section 35;