s.4Legal capacity of Foundation
4
Section 4Part 0 —

Legal capacity of Foundation

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The Foundation —
has perpetual succession;
may enter into contracts;
may sue and be sued;
may purchase, lease or otherwise acquire, hold, deal with and dispose of land and other property; and
shall have a corporate seal.
A court or person acting judicially shall assume that a document bearing the imprint of the corporate seal of the Foundation was properly sealed by the Foundation unless proved otherwise.
In the performance of the functions of the Foundation specified in section 5, the real and personal property of the Foundation shall be held in trust for the people of the Cayman Islands.
Notwithstanding subsection (1), the Foundation shall not, except with the prior approval of the Governor in Cabinet —
acquire or dispose of any real property; or
enter into any contract for the purpose of raising a loan.

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