CHAPTER VI

The Board of Trustees, in order to carry out the liquidation of the foundational patrimony, will opt at the time of carrying out the liquidation for one of the liquidation systems provided for in the Civil Code of Catalonia which are:

A) Liquidation of assets and liabilities

1. The dissolution of the Foundation requires the motivated agreement of the Board of Trustees adopted in accordance with the provisions of article 27 of these statutes and must be approved by the Protectorate.

2. The dissolution of the Foundation entails its liquidation, which must be carried out by the Board of Trustees, the liquidators, if any, or, in the alternative, by the Protectorate.

The remaining assets must be allocated to other foundations or non-profit organizations for purposes similar to those of the Foundation or to public entities. In any case, the entities receiving the assets must be beneficiaries of the patronage in accordance with current tax legislation.

3. The allocation or destination of the remaining assets must be authorized by the Protectorate before it is executed.

B) Global transfer of assets and liabilities

1. The dissolution of the Foundation requires the motivated agreement of the Board of Trustees adopted in accordance with the provisions of article 27 of these statutes and must be approved by the Protectorate.

2. The dissolution of the Foundation opens the liquidation period, which must be carried out by the Board of Trustees, the liquidators, if any, or, in the alternative, by the Protectorate.

The termination determines the global transfer of all the assets and liabilities of the Foundation. This global transfer, once the assets and liabilities have been determined, must be published in the terms required by current regulations and, with the prior authorization of the Protectorate, the assets must be awarded to other foundations or entities. non-profit for purposes similar to those of the Foundation or public entities. In any case, the entities receiving the assets must be beneficiaries of the patronage in accordance with current tax legislation.

3. If a global assignment cannot be made, the assets and liabilities must be liquidated and, as a result, the application set out in paragraph 2 must be given.