Malaysia legislation
Section 2
Section 2
Amendment of section 2
The Labuan Foundations Act 2010 [Act 706], which is referred to as the “principal Act” in this Act, is amended in section 2—
(a)
by deleting the definition of “Malaysian property”; and
(b)
in the definition of “resident”, by substituting for the words “pursuant to section 43 of the Exchange
Control Act 1953 [Act 17]” the words “pursuant to paragraph 214(6)(a) of the Financial Services
Act 2013 [Act 758] and paragraph 225(6)(a) of the Islamic
Financial Services Act 2013 [Act 759].”.
LABUAN FOUNDATIONS (AMENDMENT) ACT 2025
Amendment of section 5