industry
Religious, political or secular associations
company purpose
(1) The purpose of the foundation is the fulfillment of non-profit and charitable tasks in the field of promoting culture and music, through which the general public is supported., (2) In fulfilling its purpose, the foundation can a) invest and manage the foundation assets, as well as generally acquire, hold, manage and sell domestic or foreign company and asset investments as well as real estate for the benefit of the group of beneficiaries specified in the foundation deed and in the supplementary foundation deed;, b) donations (distributions) from the foundation assets or from the income from the foundation assets the members of the group of beneficiaries specified in the foundation deed and in the supplementary foundation deed, in particular, but not exclusively, by granting monetary or non-cash benefits or by granting the right of use of objects or real estate; c) granting other benefits to members of the group of beneficiaries, in particular from he not exclusively, by granting loans, assumption of guarantees and liabilities, etc.; and, (d) otherwise provide economic support to members of the group of beneficiaries in the broadest sense., (3) The founders reserve the right to specify the purpose of the foundation in the foundation deed in relation to certain members of the group of beneficiaries specified in the deed of foundation and in the supplementary foundation deed. Clarifying it is stated that subsequently donated assets can also be earmarked within the foundation purpose specified in (1) and for these earmarked assets and their income the foundation purposes are therefore restricted in accordance with the earmarking., (4) The foundation is entitled to close all transactions and take measures that are necessary or useful for the pursuit and realization of the purpose of the foundation, in particular, but not exclusively, to conclude legal transactions of any kind at home and abroad, to acquire participations in companies or other equity securities or financial instruments to inherit and sell, to make investments of the liquid foundation assets and to enter into debts (loans) and liabilities that are necessary or useful for the maintenance and administration of the foundation assets., (6) A commercial type of trade is not operated.
