• Alienation Of Property

    • 34. Restriction On Alienation Of Foundation Property

      (1) No Beneficiary or object of a Foundation shall have any rights in specie against the Assets of the Foundation, notwithstanding any foreign statute or law to the contrary, and, subject to the terms of the Charter or By-laws, any Assets of the Foundation available for distribution to a Beneficiary shall not be –
      (a) capable of being alienated in the bankruptcy, insolvency or liquidation of a Beneficiary; or
      (b) liable to be seized, sold, attached or otherwise taken in execution by process of law.