Source: https://www.riigiteataja.ee/en/eli/510042014001/consolide
Timestamp: 2020-07-09 15:41:59
Document Index: 568208304

Matched Legal Cases: ['§ 2', '§ 4', '§ 20', '§ 33', '§ 38', '§ 43', '§ 53', '§ 16']

The registered office of a foundation is the place where the management board of the foundation is located unless the articles of association prescribe otherwise.
(1) In order to enter a foundation in the register of its registered office, the management board shall submit a petition which sets out the information specified in clauses 14 (1) 2)–5), 8), 9), 101) and 11) of this Act and is signed by all members of the management board. The following shall be appended to the petition:
(5) The annual report and documents submitted together with the report shall be submitted to the register electronically on the basis of clause 67 (4) 1) of the Commercial Code pursuant to the procedure established by the regulation of the Minister of Justice.
(3) The residence of at least one-half of the members of the management board must be in Estonia or other Member State of the European Economic Area or in Switzerland.
(2) The management board shall submit the report for approval to the supervisory board within four months after the end of the financial year. Before submission of the report for approval to the supervisory board, the management board shall forward the report to the auditor for audit, if auditing is compulsory in accordance with the law, the articles of association of the foundation or the resolution of the supervisory board.
(3) Approved annual reports shall be signed by all members of the management board.
(1) A foundation is dissolved by a court ruling at the request of the Minister of Internal Affairs or another interested person:
(1) The liquidators shall deposit the documents of a foundation to a liquidator, a person maintaining an archive or another trustworthy person. If the liquidators have not appointed a depositary of documents, a court shall appoint one if necessary.
(1) Immediately after a merger has been entered in the register of the registered office of the acquiring foundation, the acquiring foundation shall publish a merger notice to the creditors of the acquired foundation in the publication Ametlikud Teadaanded, informing them of the possibility to submit, within six months after the publication of the notice, their claims to the acquiring foundation in order to receive a security.
(1) A merger shall be entered in the register of the registered office of the acquiring foundation if it is entered in the registers of the registered offices of all foundations being acquired. An entry in the register of the registered office of a foundation being acquired shall indicate that the merger is deemed to be effected as of its entry in the register of the registered office of the acquiring foundation.
(1) The assets of a foundation being acquired transfer to the acquiring foundation as of entry of the merger in the register of the registered office of the acquiring foundation. After entry of a merger in the register of the registered office of the acquiring foundation, entries regarding the transfer of assets shall be made in the land register and movable property registers on the basis of a petition of the acquiring foundation.
(2) A foundation being acquired shall be deemed to be dissolved as of entry of the merger in the register of the registered office of the acquiring foundation. The registrar shall delete the foundation being acquired from the register.
(3) A merger shall not be contested after its entry in the register of the registered office of the acquiring foundation.
(5) The limitation period for a claim specified in subsection (4) of this section shall be five years from entry of the merger in the register of the registered office of the acquiring foundation.
(6) The management boards of merging foundations shall submit a joint petition for entry of the new foundation in the register of its registered office.
(1) A division shall be entered in the register of the registered office of the foundation being divided if it is entered in the registers of the registered offices of all recipient foundations. Entries in the registers of the registered offices of the recipient foundations shall indicate that the division is deemed to be effected as of its entry in the register of the registered office of the foundation being divided.
(1) All assets of a foundation being divided or, upon separation, the separated assets pursuant to the distribution prescribed in the division agreement, transfer to the recipient foundations as of entry of the division in the register of the registered office of the foundation being divided. After entry of a division in the register of the registered office of the foundation being divided, entries regarding the transfer of assets shall be made in the land register and movable property registers on the petition of the recipient foundation.
(2) Upon distribution, a foundation being divided is dissolved as of entry of the division in the register of the registered office of the foundation being divided. The registrar shall delete the foundation being divided from the register.
(4) A division shall not be contested after its entry in the register of the registered office of the foundation being divided.
(1) Foundations participating in division are solidarily liable for the obligations of the foundation being divided which arise before entry of the division in the register of the registered office of the foundation being divided. In relations between solidary debtors, only persons to whom obligations are assigned by the division agreement are obligated persons.
(2) A foundation participating in division to which obligations are not assigned by the division agreement is liable for the obligations of the foundation being divided if the due date for their fulfilment arrives within five years after entry of the division in the register of the registered office of the foundation being divided.
(3) Immediately after a division has been entered in the register of the registered office of the foundation being divided, the foundation participating in the division shall publish a division notice to the creditors of the foundations participating in the division in the publication Ametlikud Teadaanded, informing them of the possibility to submit, within six months after the publication of the notice, their claims in order to receive a security.
(6) The limitation period for a claim specified in subsection (5) of this section shall be five years from entry of the division in the register of the registered office of the foundation being divided.
(2) The provisions of subsection 1 (1), § 2, subsection 3 (5), §§ 4 and 17, subsection 18 (1), the first sentence of subsection 18 (2), subsection 18 (3), §§ 20-23, § 33, subsections 34 (1) and (3), § 38, §§ 43-51, the first sentence of subsection 52 (1), subsection 52 (2), §§ 53-60 of this Act apply to non-profit organisations founded before 1 October 1996 the objective of which is the accumulation and distribution of assets for specific purposes and which have no members until entry in the register as foundation, upon entry in the register, this whole Act applies. If the articles of association of a non-profit organisation the objective of which is the accumulation and distribution of assets for specific purposes specified in the first sentence of this subsection is contrary to the Foundations Act, the provisions of the Act apply. The provisions of §§ 16–32 and 40–42 apply to non-profit organisations the objective of which is the accumulation and distribution of assets for specific purposes and which have no members in so far as their articles of association do not provide otherwise.
The Minister of Justice may issue regulations for organisation of the activities of the registration departments.