Cap. 16 Art. 31CAccessibility of registered docu- ments and confi- dentiality of private founda- tions.

(1) The following registration documents are accessible to the public, except as stated in sub-article (2):

(a) the application form;

(b) any forms notified to the Registrar under the Civil

Code (Second Schedule) (Notifications and Forms) Regulations, including the Note of Initial Registration, as the same may be amended from time to time, except the following forms:

(i) Form DD relating to assets added to an organisation by additional endowments, as the same may be amended or re-numbered from time to time;

(ii) such other forms stated in a notice issued by the Minister;

(c) the written consent of any administrator to act as administrator; and

(d) the Certificate of Registration, as well as any changes made thereto.

(2) Unless the founder has expressly waived confidentiality under sub-article (3), in the case of a private foundation, all documents, statements or declarations submitted to the Registrar, including those accompanying notified forms referred to above, shall not be accessible to third parties without the prior written consent of the administrators or the supervisory council of the foundation, if any, duly authenticated by a Notary Public, or with the permission of the Court and only when the Court is satisfied that the person requesting such information has a legitimate interest therein:

Provided that:

(a) nothing in this article shall render confidential any transactions which are subject to registration in the Public Registry according to law;

(b) unless the founder has expressly waived confidentiality under sub-article (3), the applicant shall be obliged to submit a Note of Initial Registration signed by the administrators, the founder or by the person designated in the statute as having the power to appoint the administrators as a condition to registration and this shall be accessible to the public; and

(c) articles 47, 48, 49 and 50 of the Trusts and Trustees

Act shall apply to the administrators of a private foundation.

(3)The founder may, by means of a statement in the statute or by a notarially authenticated notice in writing, filed with the Registrar, declare that all registration documents in relation to a private foundation are accessible to third parties, and the Registrar shall act accordingly. Such declaration shall be filed in the Register by the Registrar and shall be accessible to third parties.

(4)The Registrar shall implement procedures and take all measures to ensure the privacy of all documents relating to a private foundation which are not accessible to the public.

(5)A person dealing with administrators of a private foundation in relation to foundation property need not:

(a) enquire into the terms of the foundation or of any endowment; or

(b) obtain the consent of the beneficiaries or any other person, and shall, where he acts in good faith, be entitled to rely on declarations made by the administrators with regard to any matters therein stated. (6)The administrators may furnish to any person with whom they are dealing in the interest of the foundation, a certificate containing the following information without being in breach of any confidentiality obligations:

(a) that the foundation exists, is registered and that the Note of Initial Registration is complete and factually correct;

(b) the identity and address of the current administrators in office;

(c) that the administrators, or any of them, are duly authorised and empowered to carry out the relevant transaction and have obtained all necessary internal consents, if any;

(d) the revocability or irrevocability of the endowments of the foundation and, if revocable, that the endowments have not been revoked, or if any have been revoked, which ones have been revoked since the last accounts made available; and

(e) the latest accounts of the foundation. (7)When there is more than one administrator, a certificate may be signed and authenticated by any administrator. (8)Without prejudice to any liability under applicable law or to other fine or penalty which may be applicable under any other law, any administrator who issues any certificate containing any statement which he knows or ought to know is false shall be guilty of an offence and shall on conviction be liable to the punishment of imprisonment for a term not less than thirteen months and not exceed four years or to a fine (multa) of not less than one thousand and one hundred and sixty-four euro and sixty-nine cents (€1,164.69) but not more than two thousand and three hundred and twenty-nine euro and thirty-seven cents (€2,329.37) or to both.