Section 66
Delegation of power to authorize distribution to beneficiary by officer
of Labuan Foundations Act 2010
ActIn forceProvision 66 of 117
Section 66
(1)
Except where the constituent document otherwise provides—
(a)
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
(b)
the power so delegated under paragraph (a) shall be exercised as provided for in the document of delegation.
(2)
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.