Section 12: Powers and obligations
consolidated text (as at 2017, amended since). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
12. Powers and obligations
(1) Except where otherwise provided by the charter or Articles, if any, a
person who endows assets to a Foundation after its registration shall not
acquire the powers of a founder as a result.
(2) Where a founder has given an undertaking, recorded in the charter, to
endow assets to a Foundation, the Foundation shall enforce that undertaking
against the founder if, at the expiry of a period of 12 months—
(a) from the date of registration; or
(b) from such date as may be specified in the charter as the date on
which the endowment shall take place,
those assets have not been transferred to the Foundation.
F22A – 9 [Issue 4]
Foundations Act