Validity of foundation

(1) No foundation governed by this Act and no disposition of property to be held by the foundation shall be declared invalid, void, voidable, liable to be set aside, restrained or defective in any manner, nor shall the capacity of any founder, foundation council or member of a foundation council, protector or the right of any beneficiary be questioned by reason that– (a) the laws of a foreign jurisdiction prohibit or do not recognise the foundation or disposition of property to the foundation; (b) a foundation or disposition of property to be held by a foundation avoids or defeats rights, claims or interests conferred by the law of a foreign jurisdiction upon a person or contravenes any foreign rule, law, judicial or administrative decision, order or action intended to recognise, protect, enforce or give effect to any such rights, claims or interests: or (c) a law of Belize is inconsistent with any foreign law, rule or order. (2) A foundation shall not be declared invalid or be affected in any way if a founder– (a) retains, possesses or acquires any benefit or interest in or from the foundation; or 26 (b) is or becomes a beneficiary of the foundation, even if such founder is or becomes the sole beneficiary of the foundation. (3) A foundation shall not cease to be valid by reason that the foundation council has no members or that there are fewer than the number of members required by the terms of the foundation charter or by this Act. If this occurs, a member or members shall be appointed in accordance with the charter, or if the charter does not contain a relevant provision or the person authorised in the charter to appoint a member is unable or unwilling to do so, a former member, protector, founder or a beneficiary may apply to the Court for an order appointing a member or members.