The Foundation - VII. Board of supervisors

VII.

Board of supervisors

 

In case the Foundation’s yearly income exceeds 5 million forints the representative of the advisory-board is bound to notify the Founder about this fact in due time. The Founder is required to establish a Supervisory Board for the auditing of the Foundation’s economical activities within 30 days from having received the notification and also to extend the foundation deed with articles regarding this Supervisory Board.