Labuan Foundations Act 2010 s 38
s 38 Duties of officers
(1) An officer of a Labuan foundation shall take all such steps and do or cause to be done all such things as may be necessary to properly administer the Labuan foundation to achieve the purposes or objects of that Labuan foundation.
(2) The officer of a Labuan foundation shall exercise reasonable care and skill in the conduct of the affairs of the Labuan foundation, including exercising reasonable care and skill in the management and investment of the property of the Labuan foundation.
(3) The officer of a Labuan foundation shall act in accordance with the provisions of the constituent document of the Labuan foundation and the provisions of this Act.
(4) In the absence of the appointment of a council or supervisory person, the officers of a Labuan foundation acting jointly shall be the governing body of the Labuan foundation and, as against a third party, the officers so acting shall represent the Labuan foundation.
(5) Except where the constituent document of a Labuan foundation otherwise provides and subject to the provisions of this Act, the officers of the Labuan foundation shall act unanimously and may so act by circulation of a written document duly signed by each officer.
Malay text (authoritative)
Kewajipan pegawai
(1) Seseorang pegawai suatu yayasan Labuan hendaklah mengambil segala langkah dan melakukan atau menyebabkan dilakukan segala benda yang perlu untuk mentadbirkan yayasan Labuan itu dengan sepatutnya untuk mencapai maksud atau matlamat yayasan Labuan itu.
(2) Pegawai suatu yayasan Labuan hendaklah menggunakan ketelitian dan kemahiran yang munasabah dalam penjalanan hal ehwal yayasan Labuan itu, termasuk menggunakan ketelitian dan kemahiran yang munasabah dalam pengurusan dan pelaburan harta yayasan Labuan itu.
(3) Pegawai suatu yayasan Labuan hendaklah bertindak mengikut peruntukan dokumen konstituen yayasan Labuan itu dan peruntukan Akta ini.
(4) Dalam hal majlis atau orang yang menyelia tidak dilantik, pegawai yayasan Labuan yang bertindak bersesama hendaklah menjadi badan yang mengurus tadbir yayasan Labuan itu dan, dalam menghadapi pihak ketiga, pegawai yang bertindak sedemikian hendaklah mewakili yayasan Labuan itu.
(5) Kecuali jika dokumen konstituen sesuatu yayasan Labuan memperuntukkan selainnya dan tertakluk kepada peruntukan Akta ini, pegawai yayasan Labuan itu hendaklah bertindak sebulat suara dan boleh bertindak sedemikian melalui pengedaran dokumen bertulis yang ditandatangani dengan sewajarnya oleh setiap pegawai itu.
Read this section in the full act β Β· Open Part V β
Find Act 706 on lom.agc.gov.my β
Text as at 1 August 2015 (LOM reprint); amendments made after that date may not be incorporated.
Source: Laws of Malaysia, Attorney General's Chambers of Malaysia (lom.agc.gov.my). Not a copy of the Gazette printed by the Government Printer (Interpretation Acts 1948 and 1967, s 61).
