Labuan Foundations Act 2010 s 68
s 68 Power of Court to order dissolution
(1) Without prejudice to section 65, the Court may, on the application of the Labuan foundation, or by a creditor or creditors of the Labuan foundation or by the Authority, order the dissolution of a Labuan foundation if the Court is of the opinion that it is just and equitable that the Labuan foundation be dissolved.
(2) Where a Court orders that a Labuan foundation be dissolved under this section, the Court may appoint a person who is an approved liquidator under section 12 of the Labuan Companies Act 1990 to supervise the dissolution of the Labuan foundation and may, from time to time, direct the manner in which the dissolution is to be conducted.
Malay text (authoritative)
Kuasa Mahkamah untuk memerintahkan pembubaran
(1) Tanpa menjejaskan seksyen 65, Mahkamah boleh, atas permohonan yayasan Labuan, atau oleh pemiutang atau pemiutangpemiutang yayasan Labuan itu atau oleh Lembaga, memerintahkan pembubaran yayasan Labuan itu jika Mahkamah berpendapat bahawa adalah adil dan saksama yayasan Labuan itu dibubarkan.
(2) Jika Mahkamah memerintahkan supaya sesuatu yayasan Labuan dibubarkan di bawah seksyen ini, Mahkamah boleh melantik seorang yang merupakan seorang pelikuidasi yang diluluskan di bawah seksyen 12 Akta Syarikat Labuan 1990 untuk menyelia pembubaran yayasan Labuan itu dan boleh, dari semasa ke semasa, mengarahkan cara pembubaran itu hendaklah dijalankan.
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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).
