S.L. 16.8 Art. 11Additional endowment.

(1) When an organisation receives an additional endowment it shall notify the Registrar for Legal Persons by filing the prescribed form to which shall be attached the document referred to in article 34(3) and article 55 of the Second Schedule,

Civil Code.

(2) When an organisation adopts a scheme in terms of which regular contributions are to be made to the organisation, such scheme shall be submitted to the Registrar for Legal Persons for registration by filing the prescribed form within thirty days of its adoption by the administrators.

(3) For purposes of notice of endowments to the organisation pursuant to a scheme which is required to be given on an annual basis in virtue of articles 34(4) and 55 of the Second Schedule, Civil Code, such notice shall be given within thirty days of -

(a) the end of the year; or

(b) the end of the financial period applicable for the financial statement of the organisation; or

(c) the anniversary of the notice of registration, by the Registrar for Legal Persons, of the scheme, as may be selected by the administrator when registering the scheme.

(4) The notice shall have attached to it a statement of all endowments received pursuant to the scheme during the relevant annual period.

(5) The statement shall record the dates of the endowments and the relative amounts and shall be signed by an administrator.