Foundations Act Article 34

If a foundation’s charter of endowment provides for the possibility of a merger or consolidation with another foundation, or there is justifiable cause for a foundation to merge or consolidate with another foundation and the endower expresses no objection, the foundation may be merged or consolidated with another foundation upon a resolution for the merger or consolidation being adopted by a two-thirds majority vote at the Board meeting attended by directors representing three-fourths of all directors and upon an approval by the compete authority on such application.The application for approval on merger or consolidation of foundations under the preceding paragraph shall be made with the competent authority which shall be the competent authority of the new foundation or the surviving foundation after merger or consolidation, respectively.The regulation regarding the conditions and procedures for approval on merger or consolidation applications under the first paragraph, revocation of such approval and other matters to be complied with shall be stipulated by the Ministry of Justice.