Section 40: Effect of removal from register

40. Effect of removal from register (1) Where the name of a Foundation has been removed from the register, the Foundation, its officers, its Council and a protector or committee of protectors shall not— (a) carry on any business or in any way deal with the assets of the Foundation; (b) commence or defend any legal proceedings, make any claim or claim any right for, or in the name of, the Foundation; or (c) in any way act with respect to the affairs of the Foundation. (2) Notwithstanding subsection (1), where the name of a Foundation has been removed from the register, the Foundation or a creditor or liquidator may— (a) continue to defend proceedings which were commenced against the Foundation before the date of the removal; and (b) continue with any legal proceedings which were instituted on behalf of the Foundation before the date of the removal. (3) Notwithstanding the fact that the name of a Foundation has been removed from the register— (a) the Foundation shall not be precluded from incurring liabilities; (b) a creditor shall not be precluded from making a claim against the Foundation and pursuing the claim up to judgment or execution; and (c) the Court may appoint a liquidator for the Foundation.