Application for Amendment of the Charter for a Fund or Foundation

It is possible to request an amendment to the approved charter for a fund or foundation from the District Commissioner, and the District Commissioner is authorised to amend the approved charter if the legal conditions for doing so are met.

The board, founders, individuals specified in the charter, or others with an interest in the existence and operation of the foundation may request an amendment to the charter from the District Commissioner. The District Commissioner and the National Audit Office may also initiate such a request.

Process

The board must present a proposal for an amendment to the charter at a board meeting, and the board's approval must be in accordance with the current provisions of the charter.

A reasoned proposal for the amendment to the charter must be sent to the District Commissioner. A copy of the board meeting minutes where the proposal was presented and approved must accompany the proposal.

The District Commissioner reviews the submitted request. The National Audit Office is given the opportunity to provide its opinion on the request.

The opinion of the National Audit Office is reviewed by the District Commissioner. The board of the foundation is given the opportunity to comment on the opinion of the National Audit Office or the District Commissioner's remarks if deemed necessary.

The District Commissioner decides whether to approve the request for the amendment to the charter.

• If the request for the amendment is approved, the amendment is published in the Official Gazette once the payment for the advertisement is received.

• If the request for the amendment to the charter is rejected, the applicant is notified. The District Commissioner's rejection of the amendment to the charter may be appealed to the Ministry of Justice.

Related Laws and Regulations

(Only in Icelandic)

Lög nr. 19/1988 um sjóði og stofnanir sem starfa samkvæmt staðfestri skipulagsskrá

Lög nr. 112/2024 um breytingu á lögum um skráð trúfélög og lífsskoðunarfélög og lögum um sjóði og stofnanir sem starfa samkvæmt staðfestri skipulagsskrá (aðgerðir gegn peningaþvætti og fjármögnun hryðjuverka).

Reglugerð nr. 140/2008 um sjóði og stofnanir sem starfa samkvæmt staðfestri skipulagsskrá

Reglugerð nr. 1125/2006 um framkvæmd laga um sjóði og stofnanir sem starfa samkvæmt staðfestri skipulagsskrá

Reglugerð nr. 1416/2024 um breytingu á reglugerð um framkvæmd laga um sjóði og stofnanir sem starfa samkvæmt staðfestri skipulagsskrá, nr. 1125/2006.