Charter of the Charitable Foundation "Big Heart of China"

1. GENERAL PROVISIONS

1.1. CHARITABLE ORGANIZATION "BIG HEART OF YUA CHARITABLE FOUNDATION" (hereinafter referred to as the Foundation, the Organization) is a charitable organization established in the form of a CHARITY FUND, and in accordance with the Law of Ukraine "On Charitable Activities and Charitable Organizations", an individual.

The Fund does not aim to receive and distribute profits among the founders (participants), members of the governing bodies, other related parties, as well as among the Fund's employees.

1.2. The Foundation is a non-governmental, non-profit organization.

1.3. The Foundation operates in accordance with the Constitution of Ukraine, the Civil Code of Ukraine, the Tax Code of Ukraine, the Law of Ukraine "On Charitable Activities and Charitable Organizations", the Law of Ukraine "On State Registration of Legal Entities, Individual Entrepreneurs and Public Organizations", other regulatory acts and extends to the territory of Ukraine and other countries.

1.4. The Fund is a legal entity of private law, acquires the rights and obligations of a legal entity from the moment of its state registration in accordance with the procedure established by the current legislation of Ukraine, has an independent balance sheet, acquires personal property and non-property rights on its own behalf, bears responsibilities, acts as a plaintiff and defendant in the judicial authorities.

1.5. The Foundation carries out its charitable activities on the basis of legality, humanity, common interests and equal rights of participants, transparency, voluntariness and self-government.

1.6. The Fund may, in accordance with the established procedure, open accounts in banking institutions of Ukraine and abroad (abroad) as provided for by the current legislation. The Fund shall have a round seal with its name, corner and other stamps, letterheads, its own symbols, samples of which shall be approved by the Director. The symbols shall be registered in accordance with the current legislation of Ukraine.

1.7. The fund was created for an indefinite period.

1.8. The beneficiaries of charitable programs cannot be participants (founders) and members of the Foundation's governing bodies.

2. NAME AND LOCATION OF THE FUND

2.1. Full name of the Fund:

  • in Ukrainian: CHARITABLE ORGANIZATION "BIG HEART YUA CHARITABLE FOUNDATION";
  • in English: CHARITY ORGANIZATION "CHARITY FUND"BIG HEART UA".

2.2. The abbreviated name of the Fund:

  • in Ukrainian:  BECAUSE "BIG HEART OF YUA" CHARITY FOUNDATION;
  • in English: CO "CF"BIG HEART UA".

2.3. Location of the Foundation: Ukraine, 07400, Kyiv region, Brovary, Zazymskyi Shlyakh str. 11, office 5.

3. GOALS, AREAS, SUBJECT MATTER, OBJECTIVES AND MAIN FORMS OF CHARITABLE ACTIVITIES

3.1. The objectives of the Foundation are to provide assistance to promote the legitimate interests of beneficiaries in the areas of charitable activities defined by the Law of Ukraine "On Charitable Activities and Charitable Organizations", as well as to develop and support these areas in the public interest. 

3.2. The main goal of the Foundation is to carry out charitable activities in the following areas:

1) assistance to military hospitals and clinics during the Russian aggression against Ukraine;

2) health care;

3) ecology, environmental protection and animal welfare;

4) prevention of natural and man-made disasters and elimination of their consequences, assistance to victims of disasters, armed conflicts and accidents, as well as to refugees and persons in difficult life circumstances;

5) guardianship and trusteeship, legal representation and legal assistance;

6) social protection, social security, social services and poverty alleviation;

7) culture and art, protection of cultural heritage;

8) science and research;

9) sports and physical culture;

10) human and civil rights and fundamental freedoms;

11) development of local communities;

12) development of Ukraine's international cooperation;

13) stimulating economic growth and development of the economy of Ukraine and its individual regions and increasing Ukraine's competitiveness;

14) facilitating the implementation of state, regional, local and international programs aimed at improving the socio-economic situation in Ukraine;

15) promoting the country's defense capability and mobilization readiness, protection of the population in emergency situations of peace and martial law.

3.3. The Fund's activities are aimed at providing assistance to the Armed Forces, other military formations, law enforcement (special) agencies, civil defense agencies, volunteer formations of territorial communities, military hospitals and hospitals, and other persons ensuring national security and defense, repulsion and deterrence of armed aggression of a foreign state, as well as to persons who have suffered or may suffer from such armed aggression, and other persons in need.

3.4. In order to fulfill its statutory purpose, the Fund performs the following tasks in accordance with the procedure established by law, but not exclusively:

  • raises funds from benefactors - individuals (residents and non-residents), legal entities, and other charitable organizations, including international ones;
  • organizes the management of funds raised (charitable endowments) in order to preserve and increase the amount of funds used to provide assistance;
  • provides assistance, develops and implements programs aimed at achieving the Foundation's goals;
  • In order to fulfill its statutory purpose, the Fund has the right to perform other tasks in accordance with the procedure established by law.

3.5. In order to achieve its statutory objectives, the Fund carries out the following activities in accordance with the current legislation of Ukraine:

  • Provision of other social assistance without accommodation, n.a.

3.6. The Foundation carries out charitable activities in the following forms:

  • providing one-time financial, material and other assistance;
  • providing systematic financial, material and other assistance;
  • financing of specific targeted programs;
  • providing assistance on the basis of agreements (contracts) on charitable activities;
  • donation or granting permission for free (preferential) use of the Fund's property;
  • providing direct assistance through personal labor, services or transfer of the results of personal creative activity to recipients of charitable assistance;
  • assumption of expenses for the free, full or partial maintenance of charitable objects;
  • other forms not prohibited by law by the decision of the general meeting of the Fund's participants.

3.7. The Foundation establishes and maintains international contacts and relations with foreign legal entities and individuals in the interests of the Foundation in accordance with the goals and objectives set forth in this Charter.

4. CHARITY PROGRAM OF THE FOUNDATION

4.1. In carrying out its activities, the Foundation adopts charitable programs that constitute a set of charitable activities aimed at solving problems that meet the statutory objectives of the Foundation.

4.2. The entire amount of proceeds received for the financial year from enterprises, organizations and individuals owned by the Foundation, except for administrative expenses related to the Foundation's operation, shall be used to finance the Foundation's charitable programs.

4.3. If the Fund implements long-term programs, the funds are used in accordance with the terms specified in these programs.

5. RIGHTS AND OBLIGATIONS OF THE FUND

5.1. To carry out its statutory activities, the Fund has the right in accordance with the established procedure:

  - enter into agreements and other transactions with state and local governments, enterprises, organizations and institutions, as well as citizens and public associations in order to fulfill the statutory tasks of the Fund;

  - to enter into agreements in Ukraine and abroad with Ukrainian and foreign legal entities and individuals in accordance with the procedure established by law that do not contradict the statutory activities of the Fund;

  - represent and defend their rights and interests in state authorities, local governments, courts and jurisdictional bodies of other states;

  - independently determine the forms, areas, types, place (territory), terms and beneficiaries of charitable activities;

  - establish separate subdivisions, be a founder and member of other charitable organizations, as well as unions, associations, and other voluntary associations, and carry out joint charitable activities;

  - to organize the collection of charitable donations and assistance, contributions from legal entities and individuals, international organizations, as well as other property to fulfill the statutory objectives of the Foundation;

  - to be a recipient of humanitarian aid;

  - to establish honorary awards and rewards of the Foundation for persons who have merits in the implementation of the statutory tasks;

  - implement charitable programs (projects) independently or together with other philanthropists;

  - Receive information from state authorities and local governments necessary to achieve the Fund's goals and objectives;

  - to be a subject of information relations in accordance with the legislation of Ukraine in the field of information, to promote the ideas, symbols, purpose and statutory objectives of the Foundation.

  The Fund shall have the right to exercise other rights determined by law.

6. SOURCES OF ASSETS (INCOME), THE PROCEDURE FOR CONTROL AND REPORTING OF THE FUND

6.1. The Fund may have ownership or other proprietary rights to movable and immovable property (including residential and non-residential premises, land plots, vehicles, etc.), funds in national and foreign currencies, securities, intangible assets and other immovable and movable property that is not prohibited by law and contributes to the statutory activities of the Fund.

6.2. The sources of the Foundation's income and property may include: funds and property received free of charge, non-refundable financial assistance, voluntary donations; passive income in accordance with the legislation of Ukraine, grants or subsidies from the state or local budgets, as well as from state trust funds; charitable assistance, humanitarian and technical assistance received in accordance with international agreements; funds and property received from the main activities of the Foundation in accordance with the Charter and legislation of Ukraine.

6.3. The income (profit) of the Fund or a part thereof may not be distributed among the founders (participants) of the Fund, its members and employees (except for payment of their labor, accrual of a single social contribution), members of the Fund's governing bodies and other related persons.

6.4. The Fund's income (profits) shall be used exclusively to finance the expenses for the maintenance of the Fund, the realization of the purpose (goals, objectives) and activities determined by its constituent documents.

6.5. The use of the Foundation's assets (income) and transactions shall not contradict the laws and objectives of charitable activities.

  The amount of the Fund's administrative expenses may not exceed 20 percent of the Fund's income in the current year.

  Expenses related to the management of charitable endowments are included in the Foundation's administrative expenses, unless otherwise provided by law or a transaction between the Foundation and the donor.

6.6. Control over the Fund's activities and the use of its assets is exercised by its governing bodies in accordance with their powers.

  The donor or persons authorized by him/her have the right to control the targeted use of the charitable donation in accordance with the terms of the transaction (agreement) under which the Foundation received such a charitable donation.

  State control in the field of charitable activities is exercised by executive authorities and local self-government bodies within the limits of their powers defined by law.

6.7. The Fund shall prepare and submit financial, statistical and other mandatory reports in accordance with the procedure established by law.

  Information about the structure and amount of the Foundation's income and expenses, as well as the conditions for using their assets for charitable activities, is not confidential information or commercial secrets.

  The Foundation's reports may contain information about the identity of donors or beneficiaries subject to the consent of the donors, beneficiaries or their successors or legal representatives, unless otherwise provided by law.

7. RIGHTS AND OBLIGATIONS OF THE FUND'S PARTICIPANTS. CONDITIONS AND PROCEDURE FOR ADMISSION TO THE FUND'S PARTICIPANTS AND EXIT FROM AMONG THE PARTICIPANTS OF THE FUND. TERMS AND PROCEDURE FOR TERMINATION OF PARTICIPATION IN THE FUND.

7.1. The Fund's members may be legally capable individuals and legal entities, except for state authorities, local governments, and other legal entities under public law.

7.2. The Founder of the Fund shall acquire the status of a participant of the Fund from the moment of state registration of the Fund. The Fund may have, in addition to the founder, other participants who joined it in accordance with the procedure established by these Articles of Association.

  Persons who are not the founders of the Fund may be admitted to the membership of the Fund in the manner prescribed by these Articles of Association and described below.

7.3. Admission to or withdrawal from the Fund's members of an individual shall be carried out by the General Meeting of the Fund's members on the basis of an application submitted by the individual.

7.4. A legal entity shall be admitted to or withdrawn from the Fund's membership by the General Meeting of the Fund's Members on the basis of a decision of the relevant governing body of such legal entity to join or withdraw from the Fund's membership and on the basis of an application signed by a representative of such legal entity.

7.5. The General Meeting of Participants of the Fund shall have the right to refuse admission to the Fund's participants, stating the grounds for such refusal.

7.6. The General Meeting of Participants of the Fund may decide to admit a person to the membership of the Fund, provided that the person concerned is eligible:

  • recognizes the provisions of the Fund's constituent documents;
  • recognizes the purpose of the Foundation's activities and objectives, goals, areas, subject matter, tasks and main forms of charitable activities;
  • will contribute to the Fund's activities.

7.7. Participants of the Fund - legal entities - exercise their rights and obligations through their representatives.

7.8. Participants of the Fund have the right to:

  • Participate in the statutory activities and events of the Foundation;
  • receive reports of the Fund;
  • participate in the activities of the Fund's governing bodies in accordance with its Charter;
  • address the Fund's governing bodies with inquiries regarding its activities, receive oral and written explanations;
  • freely withdraw from the Fund at any time.

7.9. Participants of the Fund are obliged to:

  • comply with the requirements of the Charter and decisions of the Fund's governing bodies;
  • contribute to the achievement of the Foundation's goals and objectives;
  • participate in the events organized by the Fund in accordance with the established procedure;
  • not to allow actions that discredit or may discredit the Fund or cause it losses;
  • provide, at the request of the Fund's governing bodies, the information necessary to fulfill its purpose and statutory tasks;
  • popularize the ideas, purpose, statutory objectives and activities of the Foundation.

7.10. Participation in the Fund may be terminated by the decision of the General Meeting of Participants of the Fund without the consent of the excluded person in the following cases:

 - if the participant fails to comply with the statutory requirements of the Fund;

 - performing actions that discredit the Foundation, harm the Foundation's reputation or the interests of benefactors or recipients of charitable assistance;

 - performing other actions that contradict the program principles, internal and statutory documents of the Fund;

 - failure of the Fund's member to fulfill its obligations.

8. THE FUND'S GOVERNING BODIES, THEIR COMPOSITION, COMPETENCE, PROCEDURE OF ACTIVITY AND DECISION-MAKING. THE PROCEDURE FOR APPOINTMENT, ELECTION OR APPROVAL OF MEMBERS OF THE FUND'S GOVERNING BODIES, THEIR REPLACEMENT, SUSPENSION OF THEIR POWERS, TERMINATION OF THEIR POWERS (RECALL)

8.1. The governing bodies of the Fund are:

  • General meeting of participants;
  • Executive body;
  • Supervisory Board (if established).

8.2. The supreme governing body of the Fund is general meeting of participantsconsisting of the Fund's participants or authorized representatives of such participants.

8.3. Meetings are convened as needed, but at least once a year.

  The general meeting of the Fund's participants shall be convened by the Director of the Fund, the Supervisory Board of the Fund or any participant(s) of the Fund (hereinafter referred to as the initiator of the general meeting of the Fund's participants).

  The initiator of convening the general meeting of the Fund's participants shall notify the Fund's participants of convening the general meeting of participants not later than 10 calendar days before the date of such meeting, in one or more of the following ways, at its sole discretion:

- by means of postal and/or telegraphic communication (letter, telegram, etc.);

- by delivering a written notice against receipt.

  In the notice of convening the general meeting of the Fund's participants, the initiator of the general meeting of the Fund's participants shall indicate on whose initiative the general meeting of the Fund's participants is convened, the date and time of the general meeting of the Fund's participants, the place of its holding, the agenda of the general meeting of the Fund's participants determined by the initiator of the convocation.

8.4. The exclusive competence of the general meeting of the Fund's participants shall include:

  • Amendments to the Charter;
  • appointment or election and suspension of powers or termination of powers (recall) of members of the executive body and supervisory board (if established);
  • approval of the Foundation's charitable programs;
  • determining the main areas of activity and charitable programs of the Foundation;
  • making a decision on reorganization or liquidation;
  • making a decision on alienation of the Fund's property for the amount of fifty percent or more of the Fund's property;
  • making decisions on the establishment of separate divisions, participation in other charitable organizations, as well as unions, associations, and other voluntary associations, and joint charitable activities;
  • approval of the annual results of the Fund's activities (annual financial report of the Fund);
  • Approval of the Fund's estimate (budget) for the year;
  • Deciding on the entry of persons into the Fund's membership, on their withdrawal from the Fund's membership, and on the termination of their participation in the Fund.

  The General Meeting of Participants of the Fund may resolve any issues of the Fund's activities.

8.5. Any other issues of the Fund's activities may be submitted for consideration by the general meeting of the Fund's participants.

8.6. Each participant of the Fund (its authorized representative) has one vote when making decisions by the general meeting of participants.

8.7. Resolutions on amendments to the Charter of the Fund, termination of the Fund, alienation of the Fund's property in the amount of fifty percent or more of the Fund's property shall be adopted by at least 2/3 of the total number of votes of all participants of the Fund.

8.8.  As for other issues, the decision is made by a simple majority of votes of the Fund's members.

8.9. Resolutions adopted at the General Meeting of Participants of the Fund shall be documented in writing in the form of the Minutes of the General Meeting of Participants of the Fund.

8.10. If the Fund has one participant, the decisions to be made by the general meeting of the Fund's participants shall be made by this participant alone and shall be formalized in writing in the form of a decision.

8.11. Executive body of the Fund is a permanent governing body of the Fund, which is solely responsible for its management.

8.12. The name of the sole executive body is "director".

8.13. The Director manages the activities of the Fund and is responsible for the efficiency of its work.  

8.14. The Director of the Fund shall be appointed, elected, dismissed by the General Meeting of Participants of the Fund upon the decision of the General Meeting of Participants of the Fund and shall be accountable to the General Meeting of Participants of the Fund.

8.15.  The powers of the Director of the Fund may be terminated or he/she may be temporarily suspended from exercising his/her powers only by electing a new Director of the Fund or an acting Director. In the event of termination of the powers of the Director of the Fund, the agreement with this person shall be deemed terminated.

8.16.  During the period of temporary disability or long-term absence of the Director of the Fund, his/her duties shall be performed by the acting Director appointed by the decision of the General Meeting of Participants of the Fund.

8.17.  Director of the Foundation:

 - organize the implementation of decisions of the General Meeting of the Fund's participants and report to them;

 - manage the financial and material resources of the Fund within the limits of the powers granted to it;

 - review and submit for approval by the General Meeting of the Fund's Participants the estimates of the Fund's income and expenditures, reports on receipts and expenditures;

 - hires and dismisses employees of the Fund, applies incentives and imposes penalties on them;

 - determines the forms and amounts of remuneration of the Fund's employees;

 - approves the staffing table and organizational structure of the Fund, job descriptions of the Fund's employees;

 - acts on behalf of the Foundation without a power of attorney, represents its interests in relations with state and local governments, public organizations, scientific, cultural and educational institutions, commercial structures, organizations, individuals, as well as in relations with other persons (regardless of ownership and subordination) in Ukraine and other countries;

 - has the right to sign the Fund's financial documents, income and expense estimates, reports, letters and other business documents, claims, statements of claim and other documents to the court, other state institutions and local governments;

    - manages the property and funds of the Fund, enters into agreements, contracts, and performs other transactions on behalf of the Fund;

 - has the right of first signature on all financial documents, opens and closes accounts with banks and other financial institutions;

 - Dispose of the Fund's funds, as well as dispose of the Fund's property within the limits specified in this Charter;

 - issue orders, instructions and guidelines necessary for the implementation of the Fund's activities, which are binding on all employees and members of the Fund;

 - issues powers of attorney to other persons to perform legal actions on behalf of the Fund;

 - convenes the general meeting of the Fund's participants;

 - prepares draft resolutions to be submitted for consideration and/or approval by the general meeting of the Foundation's members, including draft budgets and charitable programs and reports on their implementation;

 - ensures the implementation of decisions of the general meeting of the Fund's participants;

 - annually reports to the general meeting of the Fund's participants on its work;

 - perform other actions aimed at realization of the Fund's goals, objectives and rights.

8.18. Supervisory Board (if established) shall be the Fund's governing body, which, within its competence as defined by this Charter, shall control and regulate the activities of the Fund's executive body and perform other functions provided for by this Charter.

  The Supervisory Board may not be established if the Fund has no more than ten participants. In the absence of a supervisory board, its powers shall be exercised by the general meeting of participants of the Fund.

8.19. The Supervisory Board shall be established and dissolved by the decision of the general meeting of the Fund's participants. The quantitative composition of the Supervisory Board shall be determined by the general meeting of participants of the Fund.

8.20. Members of the Supervisory Board may be individuals with full legal capacity. Members of the Supervisory Board of the Fund may not be members of the executive body of the Fund.

  The members of the Supervisory Board of the Fund are elected by the General Meeting of Participants of the Fund for an indefinite period of time. The General Meeting of Participants of the Fund may at any time decide to recall a member of the Supervisory Board from office, which shall result in the termination of his/her powers.

8.21. The members of the supervisory board elect its chairman from among themselves, who is authorized to convene and chair meetings of the supervisory board. The members of the supervisory board have the right to recall the chairman of the supervisory board from office at any time, which results in the termination of his powers as chairman of the supervisory board.

8.22. The members of the supervisory board perform their duties on a voluntary basis and do not receive any salary or other remuneration.

  The performance by an individual of the powers of a member of the supervisory board shall not be an obstacle to the conclusion of an employment contract between him/her and the Fund for the performance of labor duties in another position (positions) in the Fund.

  The decision to conclude an employment contract with an individual who performs the powers of a member of the supervisory board or to make another transaction with him/her shall be made by the general meeting of the Fund's participants.

8.23. The powers of a member of the Supervisory Board shall be terminated:

- in connection with the independent resignation of a member of the supervisory board;

 - in connection with the recall of a member of the Supervisory Board from office by the decision of the general meeting of the Fund's participants;

 - in connection with the dissolution of the Fund's Supervisory Board by the decision of the general meeting of the Fund's participants;

 - on other grounds provided for by the legislation of Ukraine and decisions of the general meeting of the Fund's participants.

8.24. Supervisory Board of the Fund:

 - approves the Foundation's charitable programs;

 - Controls compliance of the Fund's activities and use of assets with its constituent documents;

 - make a decision to conclude an employment contract with an individual who performs the powers of the Director of the Fund or to make another transaction with him/her;

 - convenes the general meeting of the Fund's participants;

 - reports to the general meeting of the Fund's participants on the results of monitoring the compliance of the Fund's activities and use of assets with its constituent documents;

 - has the right to suspend the powers of any member of the executive body until the decision is made by the supreme governing body of the Fund;

 - exercises other powers by the decision of the general meeting of the Fund's participants.

8.25. The organizational form of the Supervisory Board is its meetings. Meetings of the Supervisory Board shall be convened by its chairman as necessary, but at least once a year.

  Members of the supervisory board holding not less than 1/3 of the total number of votes of all members of the supervisory board may request the convening of a meeting of the supervisory board. If the request of such members of the supervisory board to convene a meeting is not fulfilled, they have the right to convene a meeting of the supervisory board themselves.

  The initiator of the convocation (the chairman of the supervisory board or its members holding at least 1/3 of the total number of votes of all members of the supervisory board) shall notify the members of the supervisory board of the convocation of its meeting. The members of the supervisory board shall personally participate in its meetings and in voting at them. Each member of the supervisory board shall have one vote when making decisions (voting). Resolutions of the Supervisory Board shall be adopted by a majority of more than half of the total number of votes of all its members.

  The meeting of the supervisory board shall be chaired by its chairman, and in case of his absence or refusal (inability) to chair the meeting, the chairman elected by the resolution of the supervisory board shall preside over the meeting.

  The decisions of the Supervisory Board are set forth in the minutes of its meeting and, if necessary, in annexes thereto.

  Minutes of a meeting of the Supervisory Board shall be drawn up on the day of such meeting.

  The minutes of the meeting of the supervisory board and, if any, annexes thereto shall be signed by the chairman of the supervisory board (presiding at the meeting).

8.26. A member of the Fund's governing body shall not participate in decision-making with respect to:

1) agreements or other transactions between the Fund and this member of the management body or a person related to him/her;

2) disputes between the Fund and this member of the governing body or a person related to him/her;

3) release of this member of the management body or a person related to him/her from property liability to the Fund.

  Members of the Foundation's governing bodies or persons related to the Foundation may not receive loans or credits and security for such loans or credits (pledge, surety, etc.) from the charitable organization.

8.27. The members of the Foundation's governing body shall be jointly and severally liable for the actions or omissions of this body that caused losses to the Foundation as a result of violation of the Law of Ukraine "On Charitable Activities and Charitable Organizations".

  The members of the Fund's governing bodies may enter into civil liability insurance contracts to compensate for damage caused by them to the Fund.

9. PROCEDURE FOR MAKING AMENDMENTS TO THE CHARTER OF THE FUND

9.1. The Foundation's constituent document is its charter.

  Amendments to the Fund's Charter shall be within the exclusive competence of the general meeting of the Fund's participants.

  Decisions on amendments to the Charter of the Fund shall be made by the general meeting of the Fund's participants in accordance with the requirements of this Charter.

9.2. Amendments to the Charter of the Fund shall be subject to state registration in accordance with the procedure established by law.

10. GROUNDS AND PROCEDURE FOR TERMINATION OF THE FUND, INCLUDING THE PROCEDURE FOR DISTRIBUTION OF ASSETS.

10.1. The Fund shall be terminated by its reorganization (merger, acquisition, division, transformation) or liquidation. 

10.2.  In the event of its reorganization, the Foundation's legal successors should be one or more charitable organizations.

10.3.  The grounds for a court decision to liquidate the Fund are determined by law.

10.4.  Liquidation of the Fund shall be carried out on the basis of the decision of the supreme governing body of the Fund, which determines the procedure and terms of such liquidation in accordance with the legislation of Ukraine.

10.5.  The Liquidation Commission shall perform the functions of managing the affairs of the Fund from the date of its appointment. The Liquidation Commission shall appear in courts and perform other actions on behalf of the Fund that is being terminated.

10.6.  The assets remaining in the course of liquidation, merger, division, accession or transformation of the Foundation after satisfaction of the claims of its creditors shall be transferred to one or more non-profit charitable organizations of the relevant type.

  In cases stipulated by the laws of Ukraine and in the absence of charitable organizations referred to in the first paragraph of clause 10.6 of this Statute, the assets of the liquidated Fund shall be transferred to the State Budget of Ukraine (credited to the budget revenue).

11. FINAL PROVISIONS

11.1. Issues related to the Fund's activities that are not specified in this Charter shall be regulated in accordance with the requirements of the current legislation of Ukraine and/or internal documents of the Fund.

11.2. If some clauses of these Articles of Association contradict the current legislation of Ukraine, these clauses shall not apply, and only the current legislation of Ukraine shall apply.

12. FOUNDER OF THE FOUNDATION AND HIS SIGNATURE:

12.1. An individual is citizen of UkraineSemko Dmytro Mykolayovych