Volume 109, Issue 42
Royal Gazette
8 April 2535
organise a board of directors as its operator within two years from the day of coming into force of this Act, have its name struck off the register by the registrar.
Section10.Any of the associations under section 8, paragraph 1, which has less than ten members shall, if it fails to procure a number of members according to the revised section 81 of the Civil and Commercial Code at the end of this Act within two years from the day of coming into force of this Act, have its name struck off the register by the registrar according to the revised section 102(5) of the Civil and Commercial Code at the end of this Act.
Section11.All the foundations which have been registered according to the Civil and Commercial Code since before the day of coming into force of this Act shall become the foundations under the revised provisions of the Civil and Commercial Code at the end of this Act, and their constituent instruments shall be deemed to be the constituent instruments of the foundations under the revised provisions of the Civil and Commercial Code at the end of this Act.
Any foundation which has been registered according to the Civil and Commercial Code since before the day of coming into force of this Act and does not use the term munnithi[1] in conjunction with its name shall apply for modification of its articles of incorporation so that they become correct in accordance with the revised section 113 of the Civil and Commercial Code at the end of this Code within two years from the day of coming into force of this Act.
Section12.All the foundations which have been registered according to the Civil and Commercial Code since before the day of coming into force of this Act and are not juristic persons must, if desiring to continue using the term munnithi[1] in conjunction with their names, apply for registration according to the revised section 114 of the Civil and Commercial Code at the end of this Code within one hundred and eighty days from the day of coming into force of this Act.
Section13.As regards any of the foundations under section 11, paragraph 1, whose articles of incorporation on the day of coming to force of this Act require less than three managers, if it fails to apply for modification of the articles of incorporation in order to have a board of not less than three directors serving as its operator within one hundred and eighty days from the day of coming into force of this Act, the registrar shall implement the revised section 128 of the Civil and Commercial Code at the end of this Act so as to order it to modify its articles of incorporation correctly according to the law. If it appears that any of the foundations is unable to continue operating, the registrar shall request a court to order its dissolution according to the revised section 131 of the Civil and Commercial Code at the end of this Act.
