Section 47: Redomiciliation

47. Redomiciliation (1) A Foundation established under the law of another State may, in accordance with this section, make an application to redomicile in Mauritius as a Foundation established and registered under this Act. (2) An application under subsection (1) shall be made to the Registrar and shall be— (a) signed by the members of the governing body of the Foundation; (b) accompanied by— (i) a statement containing the particulars required under section 23; (ii) satisfactory evidence that the Foundation is in current standing; and (iii) the fee specified in the Schedule. (3) On receipt of an application under subsection (1), and on being satisfied that the requirements of subsection (2) have been complied with, the Registrar may issue a certificate of registration in accordance with section 24. (4) A Foundation shall, as from the time of issue of a certificate under subsection (3), be capable of exercising all powers of a Foundation under this Act. F22A – 27 [Issue 7] Foundations Act (5) The redomiciliation and registration of a Foundation under this Act shall not affect any— (a) assets vested in the Foundation; (b) right, privilege, obligation or liability acquired, accrued or incurred by the Foundation; (c) penalty, forfeiture or conviction incurred by the Foundation or any member of its governing body; or (d) proceedings, whether civil or criminal, which may be pending by or against the Foundation or against any member of the governing body, and such proceedings may be enforced, prosecuted, settled or compromised by or against the Foundation or against that member. (6) Subject to any limitations in its charter or Articles, if any, a Foundation registered under this Act may redomicile and register under the law of another State. (7) A Foundation which redomiciles in accordance with subsection (6) shall not cease to be a Foundation registered under this Act except where, on redomiciliation and registration under the law of another State— (a) the Foundation submits to the Registrar a certified copy of the certificate of registration issued by the competent authority of that State; and (b) the Registrar, on receipt of the certified copy of the certificate, strikes the name of the Foundation off the register and certifies that the Foundation has ceased to be a Foundation registered under this Act. (8) The fact that a Foundation has ceased to be a Foundation registered under this Act under subsection (7) shall not affect any— (a) right, privilege, obligation or liability acquired, accrued or incurred by the Foundation; (b) penalty, forfeiture or conviction incurred by the Foundation or any member of the Council; or (c) proceedings, whether civil or criminal, which may be pending by or against the Foundation or against any member of the Council, and such proceedings may be enforced, prosecuted, settled or compromised by or against the Foundation or against that member.