Private Foundations.pdf - Mossack Fonseca & Co.

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MINISTRY OF GOVERNMENT AND JUSTICE
EXECUTIVE DECREE Nº 417
(Of 8 August 1995)
“Whereby the Private Foundations Section is created within the General Directorate of the Public
Registry, and regulations are established for the registration of the constitution, modification and
extinction of said foundations.”
THE PRESIDENT OF THE REPUBLIC
In the exercise of his constitutional and legal powers,
W H E R E A S
The Public Registry has among its purposes to certify the authenticity of all matters pertaining to the
constitution, modification or extinction of juridical persons.
By virtue of the foregoing, Article 33 of Law No. 25 of 12 June 1995, whereby Private Foundations
are regulated, sets forth that in the Public Registry there shall be registered all matters relating to
this new juridical institution.
The said Law expressly provides for the creation of a new Private Foundations Section within the
organizational structure of the Public Registry, which shall be responsible for the registration of all
matters relating to the constitution, modification and extinction of said foundations.
D E C R E E S
CHAPTER I
ON THE PRIVATE FOUNDATIONS SECTION
ARTICLE 1: The Private Foundations Section is hereby created, which shall be in charge of the
evaluation and registration of the documents concerning the constitution, modification and extinction
of Private Foundations regulated by Law No. 25 of 12 June 1995.
The appointment of the staff assigned to the Private Foundations Section of the Public Registry shall
fall on the Director General of the institution.
The staff of the Private Foundations Section shall have the same duties and responsibilities currently
ascribed to officials of the Public Registry.
YA/Pub./10.2007