LABUAN TRUSTS ACT 1996

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1 PART I PRELIMINARY-1. Short title and commencement.

2 PART I PRELIMINARY-2. Interpretation.

3 PART I PRELIMINARY-3. Existence of a trust.

4 PART I PRELIMINARY-4. [Deleted by Act A1368]

5 PART I PRELIMINARY-5. [Deleted by Act A1368]

6 PART I PRELIMINARY-6. Proper law of a trust and power to change proper law.

6A PART IA ADMINISTRATION OF THE ACT-6A. Administration of the Act.

6B PART IA ADMINISTRATION OF THE ACT-6B. Authorized officer.

7 PART II CREATION AND RECOGNITION OF LABUAN TRUSTS-7. Existence of offshore trust.

8 PART II CREATION AND RECOGNITION OF LABUAN TRUSTS-8. Creation of Labuan trust.

8A PART II CREATION AND RECOGNITION OF LABUAN TRUSTS-8A. Secrecy.

8B PART II CREATION AND RECOGNITION OF LABUAN TRUSTS-8B. Retention of certain rights by settlor.

9 PART II CREATION AND RECOGNITION OF LABUAN TRUSTS-9. Validity of Labuan.

10 PART II CREATION AND RECOGNITION OF LABUAN TRUSTS-10. Unenforceability of foreign claim or judgment.

11 PART II CREATION AND RECOGNITION OF LABUAN TRUSTS-11. Fraudulent Labuan trust or disposition.

11A PART II CREATION AND RECOGNITION OF LABUAN TRUSTS-11A. Purpose trusts.

11B PART II CREATION AND RECOGNITION OF LABUAN TRUSTS-11B. Charitable trusts.

11C PART II CREATION AND RECOGNITION OF LABUAN TRUSTS-11C. Enforcers.

11D PART II CREATION AND RECOGNITION OF LABUAN TRUSTS-11D. Purpose trust not rendered void merely by uncertainty.

11E PART II CREATION AND RECOGNITION OF LABUAN TRUSTS-11E. Spendthrift or protective trust.

12 PART II CREATION AND RECOGNITION OF LABUAN TRUSTS-12. Registration of Labuan trust.

13 PART II CREATION AND RECOGNITION OF LABUAN TRUSTS-13. Registration of trust instrument.

14 PART II CREATION AND RECOGNITION OF LABUAN TRUSTS-14. Name and registered office of offshore trust.

15 PART II CREATION AND RECOGNITION OF LABUAN TRUSTS-15. Register and restriction on disclosure.

16 PART II CREATION AND RECOGNITION OF LABUAN TRUSTS-16. Duration of Labuan trust.

17 PART II CREATION AND RECOGNITION OF LABUAN TRUSTS-17. Variation and revocation of Labuan trust.

18 PART II CREATION AND RECOGNITION OF LABUAN TRUSTS-18. Failure or lapse of interest.

19 PART II CREATION AND RECOGNITION OF LABUAN TRUSTS-19. Termination of Labuan trust.

20 PART II CREATION AND RECOGNITION OF LABUAN TRUSTS-20. Redomiciliation of foreign trust in Labuan.

21 PART II CREATION AND RECOGNITION OF LABUAN TRUSTS-21. Migration of Labuan trust from Labuan.

21A PART IIA BENEFICIAL OWNERSHIP-21A. Register of beneficial owners of Labuan trust.

22 PART III BENEFICIARIES OF LABUAN TRUSTS-22. Beneficiaries.

21B PART IIA BENEFICIAL OWNERSHIP-21B. Power of trustee to require disclosure of beneficial ownership information.

23 PART III BENEFICIARIES OF LABUAN TRUSTS-23. Disclaimer.

21C PART IIA BENEFICIAL OWNERSHIP-21C. Duty of beneficial owner of Labuan trust to provide information.

24 PART III BENEFICIARIES OF LABUAN TRUSTS-24. Interest of beneficiary and dealings thereof.

21D PART IIA BENEFICIAL OWNERSHIP-21D. Obligation of trustee of a Labuan trust to maintain and keep information up to date.

25 PART III BENEFICIARIES OF LABUAN TRUSTS-25. Class interest.

21E PART IIA BENEFICIAL OWNERSHIP-21E. Power of Authority to conduct examination on register of beneficial owners of Labuan trust.

26 PART IV TRUSTEES OF LABUAN TRUSTS-26. Appointment of trustees.

27 PART IV TRUSTEES OF LABUAN TRUSTS-27. Acceptance of appointment as trustee.

28 PART IV TRUSTEES OF LABUAN TRUSTS-28. Resignation of trustees.

29 PART IV TRUSTEES OF LABUAN TRUSTS-29. Vacancy in a trust.

30 PART IV TRUSTEES OF LABUAN TRUSTS-30. Duties of trustees.

31 PART IV TRUSTEES OF LABUAN TRUSTS-31. Duty of co-trustees.

32 PART IV TRUSTEES OF LABUAN TRUSTS-32. Impartiality of trustees.

33 PART IV TRUSTEES OF LABUAN TRUSTS-33. Powers of trustees.

33A PART IV TRUSTEES OF LABUAN TRUSTS-33A. Trustee's power of investment.

33B PART IV TRUSTEES OF LABUAN TRUSTS-33B. Advice in relation to investment.

34 PART IV TRUSTEES OF LABUAN TRUSTS-34. Letter or memorandum of wishes.

35 PART IV TRUSTEES OF LABUAN TRUSTS-35. Appointment of protector.

36 PART IV TRUSTEES OF LABUAN TRUSTS-36. Delegation of powers by trustee.

36A PART IV TRUSTEES OF LABUAN TRUSTS-36A. Delegation of powers in relation to property management functions.

36B PART IV TRUSTEES OF LABUAN TRUSTS-36B. Review of Agents

37 PART IV TRUSTEES OF LABUAN TRUSTS-37. Power of attorney.

38 PART IV TRUSTEES OF LABUAN TRUSTS-38. Accumulation, advancement or appropriation of trust property.

39 PART IV TRUSTEES OF LABUAN TRUSTS-39. Appointment or assignment of trust property.

40 PART IV TRUSTEES OF LABUAN TRUSTS-40. Remuneration and expenses.

41 PART IV TRUSTEES OF LABUAN TRUSTS-41. Confidentiality in relation to trusts.

42 PART IV TRUSTEES OF LABUAN TRUSTS-42. Liability for breach of trust.

42A PART IV TRUSTEES OF LABUAN TRUSTS-42A. Prevention of breach of trust.

42B PART IV TRUSTEES OF LABUAN TRUSTS-42B. Remedies for breach of trust.

43 PART IV TRUSTEES OF LABUAN TRUSTS-43. Trustee acting in respect of more than one trust.

44 PART IV TRUSTEES OF LABUAN TRUSTS-44. Dealings with third parties.

45 PART IV TRUSTEES OF LABUAN TRUSTS-45. Constructive trustee.

46 PART IV TRUSTEES OF LABUAN TRUSTS-46. Indemnity of retiring trustee.

46A PART IVA LABUAN SPECIAL TRUST-46A. Application of this Part.

46B PART IVA LABUAN SPECIAL TRUST-46B. Interpretation.

46C PART IVA LABUAN SPECIAL TRUST-46C. Primary purpose of this Part.

46D PART IVA LABUAN SPECIAL TRUST-46D. Designated shares.

46E PART IVA LABUAN SPECIAL TRUST-46E. Trustee's duties in relation to designated shares.

46F PART IVA LABUAN SPECIAL TRUST-46F. Restrictions on trustee's powers.

46G PART IVA LABUAN SPECIAL TRUST-46G. Provisions relating to directors.

46H PART IVA LABUAN SPECIAL TRUST-46H. Intervention by trustee in management in prescribed circumstances.

46I PART IVA LABUAN SPECIAL TRUST-46I. Power to dispose designated shares.

46J PART IVA LABUAN SPECIAL TRUST-46J. Enforcement.

46K PART IVA LABUAN SPECIAL TRUST-46K. Power of Court to order disposal.

46L PART IVA LABUAN SPECIAL TRUST-46L. Beneficiaries not entitled.

46M PART IVA LABUAN SPECIAL TRUST-46M. Disqualification of trustee as a director.

46N PART IVA LABUAN SPECIAL TRUST-46N. Ascertaining wishes of settlor.