Board of Trustees

Modification of the Articles of Association

In the 2017 financial year, at the meeting of the Board of Trustees held on 14 December 2017, the Board unanimously approved the proposed modification of the Articles of Association and its recasting, empowering the Secretary of the Board of Trustees to appear before a notary, to notarise the modification and recasting and to transfer it to the Protectorate and the Register of Foundations.

The proposed modification is as follows: In accordance with art. 29 of Law 50/2002, of 26 December, on Foundations), the CIEN Board of Trustees has made the following observation: ‘In accordance with the provisions of article 129 of Law 40/2015, of 1 October, on the Legal Regime of the Public Sector, the statutes of each foundation shall determine the Public Administration to which it shall be attached. The text of the Statutes must make this assignment explicit, which is different from the exercise of the Protectorate’.

This observation has been included in paragraph 4 of article 1 of the statutes and has the favourable report of the State Lawyer, and is submitted to the approval of this Board of Trustees: ‘4. The Foundation is of state scope and competence and is attached to the General State Administration’.

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