Foundations Act Article 40

The tenure of a public-endowed foundation’s directors shall not exceed 4 years, and they may be re-appointed; provided that the number of such re-appointed directors shall not exceed four-fifths of the total number of directors to be appointed at the same time.Directors concurrently served by public servants whose office changes following the change of their official posts shall not be included in the calculation of the number of re-appointed directors and the total directors to be appointed under the preceding paragraph.If the appointment is not timely completed on the expiry of the directors’ tenure under the first paragraph, the directors shall continue to perform their duties until the newly appointed directors take office. Notwithstanding the foregoing, the competent authority may order the directors to be appointed within a specified time period; and, failing which, the directors shall be ipso facto removed from office on expiry of the specified time period.A vacancy created by the removal of a director due to resignation, death or being no longer able to exercise duties for other causes prior to expiry of the director’s tenure may be filled by appointment of another director who shall serve until the end of the removed director’s tenure.