Section 8: Charter of Foundation

8. Charter of Foundation (1) The charter of a Foundation shall specify— (a) the name of the Foundation; (b) the particulars of the founder, including— (i) his name and address; (ii) where the founder is a body corporate, its name and registered address and particulars of its directors and controlling members; and (iii) an address for the founder in Mauritius for service of documents; (c) the purposes and objects of the Foundation; (d) the endowment of the property which shall be the initial assets of the Foundation; (e) the beneficiary of the Foundation or the manner in which he may be appointed and, if applicable, the manner in which he may be removed; (f) the period, if any, for which the Foundation is established; (g) the name and address of the secretary; (h) the address of the registered office of the Foundation; and (i) the procedure for the appointment of the Council or of a protector or committee of protectors and its or his powers and duties. (2) The charter of a Foundation may also provide for any other matter in respect of the Foundation, including provisions— (a) for the reservation of rights or powers of the founder; F22A – 7 [Issue 4] Foundations Act (b) for the appointment, removal, period of office and representative authority of officers of the Foundation, including the number and description of such persons; (c) for the appointment, removal and period of office of the auditor, if any, of the Foundation; (d) for the appointment and removal of a protector or committee of protectors of the Foundation, as well as— (i) the duties, functions, powers and remuneration of the protector or committee of protectors; and (ii) their relationship with the Council whilst in office; (e) for the appointment, removal and period of office of the members of the Council and the holding of its meetings; (f) for the circumstances in which amendments to the charter may be made and the procedure to be complied with for such amendments; (g) requiring or permitting the drafting of Articles; (h) providing for the endowment of property to the Foundation in addition to the initial assets; (i) for the appointment of additional beneficiaries; and (j) for the circumstances, if any, in which the Foundation may be redomiciled and the conditions to be satisfied in respect of such redomiciliation. (3) The charter of a Foundation shall be in writing and shall— (a) where the founder is a natural person, be signed by him; or (b) where the founder is a body corporate, be signed on behalf of the founder, by the person or persons authorised for that purpose.