Act No 158 / 2010 Coll.
Act amending Act No. 227 / 1997 Coll., on Foundation and Foundation Funds and amending and supplementing certain related laws (Law on Foundation and Foundation Funds), as amended
Valid
Effective from 01.07.2010
158
THE LAW
of 22 April 2010
amending Act No. 227 / 1997 Coll., on Foundation and Foundation Funds and amending and supplementing certain related laws (Law on Foundation and Foundation Funds), as amended
Parliament has decided on this law of the Czech Republic:
Act No. 227 / 1997 Coll., on Foundation and Foundation Funds and amending and supplementing certain related laws (Act and Foundation and Foundation Funds), as amended by Act No. 210 / 2002 Coll., Act No. 257 / 2004 Coll., Act No. 296 / 2007 Coll., Act No. 126 / 2008 Coll. and Act No. 227 / 2009 Coll., is amended as follows:
1. In Article 7, the following paragraph 3 is inserted after paragraph 2:
"(3) The Foundation Fund shall also be repealed by decision of the Management Board on the abolition of the Foundation Fund for the Exhaustion of Assets, as set out in the Management Board Decision. ';
Paragraphs 3 to 5 shall be renumbered paragraphs 4 to 6.
2. Paragraph 7 (5) reads as follows:
"(5) The Foundation Fund shall be cancelled by decision of the Management Board, after prior agreement of the Foundation, if the assets of the Foundation Fund have been exhausted and the Foundation Fund cannot thus fulfil the purpose for which it was set up. If the founder and his rights provided for by this law, the fund of foundations or the fund of foundations has not been transferred to the legal successor, the court, acting on a proposal from the Board of Directors or a person certifying the legal interest in the decision, shall decide on the cancellation of the fund of foundations for lack of assets. ';
3. In Paragraph 8 (2), the words "the assets of the Foundation Fund are not sufficient to fulfil the purpose for which the Foundation Fund was set up and 'are deleted.
4. In Paragraph 8 (3), the words "the assets of the Foundation Fund are not sufficient to fulfil the purpose for which the Foundation Fund was set up and 'are deleted.
5. In Article 8, the following paragraph 7 is inserted after paragraph 6:
"(7) The decision of the Management Board of each participating Foundation and the Foundation Fund on a national merger by merger shall be taken by means of a notarial registration, which shall include a draft national merger by merger. ';
Paragraph 7 shall become paragraph 8.
6. The following Section 8a is inserted after Section 8:
(1) If the Endowment Fund is authorised to do so, the Board of Directors of the Foundation may, after prior approval of the Supervisory Board or the Board of Auditors, decide to change the legal form of the Endowment Fund to the Foundation if the assets of the Foundation are more than CZK 1 000 000 and the assets of at least CZK 500 000 meet the conditions for the endowment assets referred to in Section 3 (5).
(2) The decision of the Management Board of the Foundation Fund to amend the legal form must include:
(a) the name, registered office and identification number of the Foundation Fund;
(b) the name and registered office of the Foundation following a change in legal form;
(c) the name, surname, birth number or date of birth, if no birth number is assigned, and the address of the permanent residence of the members of the Management Board, indicating the manner in which they act on behalf of the Foundation;
(d) the name, surname, birth number or date of birth, if no birth number is assigned, and the address of the permanent residence of the members of the supervisory board or of the auditor.
(3) A notarial registration must be issued on the decision of the Board of Directors of the Foundation to amend the legal form.
(4) Following the entry of a change in the legal form of the Foundation Fund in the Foundation Register, the decision to change the legal form cannot be revoked or amended or the change in the legal form declared invalid or revoked. '
7. In Paragraph 16, the words "only one member of the Management Board remains' are replaced by the words" the Management Board has ceased to be quorum as a result of a decline in the number of members'.
8. In Article 21 (1), the words "and to cover the costs related to the management of the Foundation or the Foundation Fund 'are replaced by the words" or to cover the costs of other activities to fulfil the purpose of the Foundation or the Foundation or the Foundation Fund and to cover the costs of the management of the Foundation or the Foundation.';
9. Paragraph 26 (1) reads as follows:
"(1) The Foundation and the Foundation Fund shall publish the annual report by depositing it in a collection of documents with the Registry Court within 30 days of the approval of the annual report by the Management Board, but not later than the end of the immediately following financial year, even if the Management Board has not approved the annual report."
Efficacy
This Act shall take effect on 1 July 2010.
Wolf
Klaus v. r.
Fischer v. r.
Sign in for notes, favorites and notifications
Regulation Information
| Citation | Act No. 158 / 2010 Coll., amending Act No. 227 / 1997 Coll., on Foundation and Foundation Funds and amending and supplementing certain related laws (Law on Foundation and Foundation Funds), as amended |
|---|---|
| Regulation Type | - |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 21.05.2010 |
|---|---|
| Effective from | 01.07.2010 |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
Comments 0