Foundation council

(1) A foundation shall, at all times, have a foundation council, whose powers, rights, duties and obligations shall be as set out in the foundation charter, its by-laws and this Act, for the benefit of the beneficiaries and to effectuate the purpose of the (2) Subject to the terms of the foundation or its by-laws and without prejudice to the generality of sub-section (1), the foundation council shall have the following general powers and (a) to direct the administration of the assets of the (b) to exercise the powers of the foundation, directly or indirectly, through the employees and agents of the foundation; (c) to enter into any transactions, contracts or other lawful business that may be suitable or necessary to fulfil the purposes of the (d) to provide information relating to the property endowment to the beneficiaries of the foundation and the protector, if any; 44 (e) to make distributions or applications of all or any part of the property endowment or the income of the foundation; and (f) to do all such other acts as may be provided for by this Act. (3) No person shall be a member of a foundation council of a foundation if the person is– (a) a minor; or (b) an incompetent; or (c) the protector of the foundation; or (d) disqualified from being– (i) a member of a foundation under this Act, or (ii) a director of a company under any law