Organization: Board of Trustees
Without prejudice to prior authorisations from the Protectorate, the authority of the Board extends to all matters which concern the governance, administration and representation of the Foundation, without exception.
The exclusive and permanent responsibilities and capacities of the Board are as follows:
a) Exercise the highest degree of control, oversight and direction of the work of the Foundation and formulate Foundation management plans, activity plans and periodic activity schedules.
b) Approve the activity plans, the Foundation activity report, as well as the Financial Balance Sheet, Annual Report and Accounts, which must be submitted to the Protectorate.
c) Approve Foundation Statute amendments where appropriate in the interest of the Foundation.
d) Change the Foundation’s registered address, by making the appropriate changes to the statutes, to be subsequently sent to the Protectorate and to approve the opening and closing of its delegations.
e) Establish general guidelines for the distribution and application of funds available between the Foundation’s purposes.
f) Approve merger or termination with the liquidation of the Foundation in cases established by law, as well as performing the duties of the Liquidation Committee.
g) Adopt any agreements that require authorisation by the Protectorate.
h) Designate members of the Governing Board and supervise its activity.
i) Appoint the Foundation’s Executive Director.
To facilitate optimal achievement of the Foundation purposes, the Board delegates authorities and capacities that it does not exclusively and permanently perform to the Governing Board, which will act as the Board’s delegated body under the terms of these Statutes and any applicable legal provisions.