Labuan Foundations Act 2010 s 50
s 50 Capacity and powers
(1) A Labuan foundation duly registered under this Act is a body corporate and may sue and be sued in its corporate name.
(2) Subject to this Act and the provisions of its constituent document, a Labuan foundation has the capacity, rights, powers, and privileges of an individual person.
(3) The charter of a Labuan foundation may contain provisions restricting its capacity, rights, powers and privileges.
(4) Notwithstanding subsection (3), the validity of an act done by a Labuan foundation shall not be called into question on the ground of lack of capacity by reason of anything contained in its charter.
Malay text (authoritative)
Keupayaan dan kuasa
(1) Sesuatu yayasan Labuan yang didaftarkan dengan sewajarnya di bawah Akta ini ialah suatu pertubuhan perbadanan yang boleh membawa guaman dan dibawa guaman atas nama perbadanannya.
(2) Tertakluk kepada Akta ini dan peruntukan dokumen konstituennya, sesuatu yayasan Labuan mempunyai keupayaan, hak, kuasa dan keistimewaan orang perseorangan.
(3) Piagam sesuatu yayasan Labuan boleh mengandungi peruntukan yang menyekat keupayaan, hak, kuasa dan keistimewaannya.
(4) Walau apa pun subseksyen (3), kesahan sesuatu perbuatan yang dilakukan oleh sesuatu yayasan Labuan tidak boleh dipersoalkan atas alasan ketiadaan keupayaan disebabkan oleh apaapa yang terkandung dalam piagamnya.
Read this section in the full act → · Open Part VI →
Find Act 706 on lom.agc.gov.my ↗
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).
