Private Foundation Corner

2020 ◽  
Vol 37 (7) ◽  
pp. 7-7
Keyword(s):  
Private Foundation

Discretionary powers in the Austrian Private Foundation Law

2020 ◽  
Vol 26 (6) ◽  
pp. 512-518
Author(s):  
Daniela Olbrich
Keyword(s):  
Decision Making ◽  
Supreme Court ◽  
Board Member ◽  
Board Members ◽  
Wide Scope ◽  
Executive Board ◽  
Private Foundation ◽  
Discretionary Powers

Abstract The fact that only an objective qualification of the foundation board is decisive with regard to its liability is sufficiently ruled by the Austrian Supreme Court. However, in the end the board member is left alone with the question of what is required in concrete terms. A recent decision of the Austrian Supreme Court granting the foundation’s executive board an extremely wide scope for decision-making where the foundation statute does not provide detailed guidelines came as a surprise. This article deals with the issues faced by foundation board members in avoiding liability when exercising their powers and the need to limit the wide discretionary powers of such board members by creating an adequate statutory framework.

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