28. Registered office and conduct of business

(1) A Foundation shall at all times have a registered office in the AIFC to which all communications and notices may be delivered.

(2) Subject to the provisions of subsection 9(4) (Nature of objects of a Foundation), a Foundation shall carry on its activities in the AIFC and elsewhere as permitted by the Acting Law of the AIFC.

(3) A document may be served on a Foundation by leaving it at, or sending it by post to, the registered office of the Foundation or by other means agreed by the Foundation.

28-1. Register of Founders

A Foundation must establish and maintain a Register of Founders at its registered office in the AIFC.

29. Particulars in correspondence and other communications

Subject to the Acting Law of the AIFC, the name of a Foundation and its registered number shall appear in legible characters on the common seal of the Foundation (if applicable), and on every business letter, statement of account, invoice, official notice, publication or any other instrument issued by the Foundation, including communications through electronic means.

30. Change of name

(1) Where a Foundation changes its name under subsection 16(4) (Charter), the Registrar shall enter the new name on the Register in place of the former name, and shall issue a certificate of name change showing the previous name and the new name of the Foundation, provided that any such name change shall also be subject to subsection 14(3) (Creation).

(2) The name change will take effect from the date on which the Registrar issues the certificate of name change.

(3) A change of name by a Foundation under these Regulations does not affect any rights or obligations of the Foundation or render defective any legal proceedings by or against it and any legal proceedings that might have been continued or commenced by or against it under its former name may be continued or commenced under its new name.

31. Accounts and accounting records

(1) Unless inconsistent with this section, sections 129 to 132 of the AIFC Companies Regulations shall apply to a Foundation, as if it were a private company and any reference to “Director(s)” or “Officer(s)” in relevant sections in the AIFC Companies Regulations shall be interpreted to refer to member(s) of the Council. A Foundation which fails to keep and maintain accounts or make them available as required under these Regulations is liable to a fine, as set out in Schedule 3 (Fines).

(2) A Foundation’s accounts shall be approved by the Council and signed on their behalf by at least two members of the Council. A Foundation which fails to comply with this requirement is liable to a fine, as set out in Schedule 3 (Fines).

(3) A Foundation shall within thirty (30) days after the accounts have been approved by the Council file a copy of its annual accounts with the Registrar.

(4) A Foundation which fails to comply with the requirements in subsection 31(3) is liable to a fine, as set out in Schedule 3 (Fines).

(5) A Person who makes a statement that is false, misleading or deceptive in a material way to the Registrar in respect of accounts, is liable to a fine as set out in Schedule 3 (Fines).