Reduction of primary capital in public foundations
Last updated: 28 February 2022.
A decision to reduce the primary capital is made by the board.
The board may not make such a decision if the statutes, or otherwise is determined, or clearly assumed by the founder that the original primary capital may not be used for distributions.
A decision to reduce the primary capital must be reported to the Foundation Authority within six weeks after the decision has been made. If the reduction has not been reported within the time limit, it will be cancelled.
You can read more about capital reduction at the website of the Gaming and Foundation Authority