Council Member's Declaration

[DD-MM-YYYY]

WHEREAS,

[Insert names of Council Member(s)]

are the duly appointed Council Members (each a ‘Council Member' and collectively, the ‘Council Members') of [insert Foundation name], a Foundation established and organised in the Dubai International Financial Centre (the ‘Foundation') under DIFC Law No. 3/2018 Foundations Law; and

WHEREAS, the Council Members have determined that it is in the Foundation's best interest to be wound up and the reason for this decision is due to [Insert the reason for winding up]; and

WHEREAS, in furtherance of the above mentioned determination, the Council Members hereby make the following declarations:

DECLARED that, having made a full inquiry into the Foundation's affairs and that, having done so, the Council Members formed the opinion that:

(a) The Foundation is not in operation and is not carrying on activities for which it was established; and

(b) The Foundation has no outstanding payments to make to creditors, employees or other third parties, other liabilities or is in breach of current contractual arrangement with third parties.