Application to Merge Two or More Funds or Non-Profit Institution

It is possible to request that the district commissioner merge a fund or non-profit institution with another non-profit institution, and the district commissioner may grant such a request if the legal conditions are deemed to be met.

The board, founders, individuals specified in the charter, or others with an interest in the existence and operation of the non-profit institution may request that the district commissioner merge a fund or non-profit institution with another non-profit institution. The district commissioner and the National Audit Office may also initiate this process.

The board may propose at a board meeting of the non-profit institution to merge it with another non-profit institution, but the board's approval must be in accordance with the current provisions of the charter.

A reasoned proposal for the merger of non-profit institutions or a draft of a new charter, along with justification for the merger, must be sent to the district commissioner.

The district commissioner reviews the submitted request. The National Audit Office is given the opportunity to provide its opinion on the matter.

The opinion of the National Audit Office is reviewed by the district commissioner. The board of the non-profit institution is given the opportunity to comment on the opinion of the National Audit Office or the district commissioner's suggestions if deemed necessary.

The district commissioner decides whether to approve the request for the merger of non-profit institutions. If the request for the merger is approved, one or more non-profit institutions must transfer their assets, rights, and obligations to another non-profit institution, or two or more non-profit institutions are merged into a new non-profit institution. If the request for the merger of non-profit institutions is denied, the applicant is notified. The district commissioner's decision to deny the merger of non-profit institutions can 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.