Regulation Governing Merger and Consolidation of Foundations Article 10

If a foundation fails to apply for the court registration within the time period set out in the first paragraph of Article 8 after it is granted with a merger or consolidation approval, and further fails to apply for the court registration within the specified time period notified by the competent authority, the competent authority may rescind its merger or consolidation approval and notify the court and the respective competent authority prior to the merger or consolidation.