The government proposed to Parliament to pass a law on non-investment funds with effect from June 1997. These funds should replace most of the existing Foundations.

It is proposed that a physical person as well as legal entity may create such a fund. The minimum amount of the contribution made by a founder of the fund will be Sk 2,000.

The fund will be defined as a non-profitable legal entity which concentrates financial means for generally beneficial activities and humanitarian help.

The content of this article is intended to provide a general guide to the subject matter. It is therefore not a substitute for specialist advice.

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