International Foundations

Cap. 24:02 · Revised Edition 2020 · 129 sections

s. 1Short title
s. 2Interpretation
s. 3Establishment of foundation
s. 4Residence of founder and beneficiary
s. 5Residence of members
s. 6Name of foundation
s. 7Registered office of foundation
s. 8Irrevocable nature of foundation
s. 9Duration of foundation
s. 10Governing law of foundation
s. 11Purposes of foundation
s. 12Charitable foundation
s. 13Validity of foundation
s. 14Declaration of invalid and unenforceable foundation
s. 15Determination of validity of foundation
s. 16Powers of Registrar
s. 17Registration
s. 18Renewal of registration
s. 19Notice of dissolution of foundation
s. 20Inspection of the Register of International Foundations
s. 21Foundation charter
s. 22Execution of the foundation charter
s. 23Amendments to the charter
s. 24Rules of interpretation
s. 25Dissolution by foundation council
s. 26Dissolution due to impossibility
s. 27Procedure on dissolution
s. 28Dissolution by the Court
s. 29Striking off
s. 30Appeal
s. 31Restoration of name to Register
s. 32Distribution of residuary assets
s. 33Registered agent
s. 34Registered agent ceasing to act on foundation
s. 35Founder
s. 36Foundation council
s. 37Member not to be beneficiary of foundation
s. 38Duty of care of the foundation council
s. 39Number of members of the foundation council
s. 40Residency requirements of the members
s. 41Limitation on unlicensed person serving as member
s. 42Appointment and removal of members
s. 43Meetings of members
s. 44General power of the foundation council
s. 45Power to manage foundation endowment
s. 46Power of investment
s. 47Power to distribute
s. 48Power to delegate acts of administration
s. 49Foreign judgments
s. 50Power to relocate foundation endowment
s. 51Segregation of foundation endowment
s. 52Foundation council’s power to apply to Court
s. 53Duress
s. 54Remuneration of the foundation council
s. 55Constructive trustee - beneficiary relationship
s. 56Protector
s. 57Member not to be protector
s. 58Fiduciary duty of protector
s. 59Register of foundation council, members and protector
s. 60Beneficiaries
s. 61Distributions to beneficiary
s. 62Beneficiary’s right to apply to the Court
s. 63Power to renounce interest
s. 64Breach of fiduciary duty - Liability
s. 65Constructive trustee
s. 66Tracing foundation endowment
s. 67Exculpation
s. 68Breach of fiduciary duty by co-member or co-protector
s. 69Resignation, retirement or removal of member or protector
s. 70Limitation and release from Liability
s. 71Liability of former member or protector
s. 72Liability to third parties
s. 73Secretary
s. 74Register of Foundation Council Members and Secretary
s. 75Foundation endowment
s. 76No validation of property not vested in founder
s. 77Community property
s. 78Exempt property
s. 79Anti-alienation
s. 80Claims against property based upon relationship
s. 81Foreign offences
s. 82Bankruptcy
s. 83Fraudulent dispositions within the jurisdiction of Belize
s. 84Accounts and records
s. 85Continuance in Belize
s. 86Articles of continuance
s. 87Certificate of continuance
s. 88Preservation of continuity of foundation
s. 89Continuance in foreign jurisdiction
s. 90Conditions applicable to continuance in foreign jurisdiction
s. 91Discontinuance and effect
s. 92Jurisdiction
s. 93General powers of the Court
s. 94Enforcement of judgment
s. 95Priority
s. 96Exclusion of foreign law
s. 97Foundation as a separate legal entity
s. 98Limitation of proceedings
s. 99Affidavits
s. 100Government immunity from suit
s. 101Payment into Court Registry
s. 102Contingent fee arrangements
s. 103Confidentiality
s. 104Permissible disclosure of confidential information
s. 105Maintenance of confidential nature of information
s. 106Reports and publications of judicial proceedings
s. 107Exemption from taxes, duties and exchange control
s. 108Registrar and other officers
s. 109Official seal
s. 110Official registration number
s. 111Form of documents to be delivered to the Registrar
s. 112Certificate of good standing in case of registered foundations
s. 113Inspection of documents kept by the Registrar
s. 114Enforcement of duty to deliver documents or notices to the Registrar
s. 115Investigation order
s. 116Contents of order and copies of reports
s. 117Inspector’s powers
s. 118Hearing in camera
s. 119Incriminating evidence
s. 120Absolute privilege
s. 121Compliance inspections
s. 122Registration and annual fees
s. 123Legal professional privilege
s. 124Powers of the Court
s. 125Arbitration tribunal
s. 126Service of process, etc. on foundation
s. 127Regulations
s. 128Authority to prosecute and limitation period
s. 129Fees and Penalties