Foundations Act Article 4

If there is a change to a national foundation’s main operation after its establishment, upon approval of its application, the competent authority may be changed to the central regulatory authority of the respective business in which the foundation mainly operates after the change. With the consent given by the central regulatory authority of the respective business in which the foundation mainly operates after change, the original competent authority may directly transfer the administrative authority without an application.If there is a change to a local foundation’s main operation after its establishment and accordingly the foundation must transfer its operation to another municipality or county (city), upon approval of its application, the competent authority may be changed to such other municipal or county (city).A local foundation which meets the criteria for establishment of a national foundation, upon approval of its application, may be converted to a national foundation. A national foundation with justifiable causes, upon approval of its application, may be converted to a local foundation.The application for approval under the preceding three paragraphs shall be filed with the original competent authority. The regulation on the application procedure, approval conditions, the procedures relating to transfer of administrative authority and other matters to be complied with shall be stipulated by the Ministry of Justice.The original competent authority, upon its receipt of an application under the preceding paragraph, shall request the prospective competent authority after transfer of administrative authority to respond within 45 days whether it consents to such transfer; a consent shall be deemed given if there is no response within the specified time period.