In the order published in the Diário da República, it can be read that the extinction is effective because “the activities developed [by this institution] show that the real purpose does not coincide with the purpose provided in the act of institution.
The government extinguished the José Berardo Foundation, based in Funchal, through an order of the Presidency of the Council of Ministers, published on Tuesday in the second series of the Official Gazette.
“The extinction of the José Berardo Foundation” is declared following the report of the General Inspectorate of Finance, 2019, under the Framework Law of Foundations and is effective because “the activities developed [by this institution] show that the real purpose does not coincide with the purpose provided for in the act of institution,” as stated in the order signed by the Secretary of State of the Presidency of the Council of Ministers, André Moz Caldas,
The José Berardo Foundation, created in Funchal in 1988, was an instrument in the management of the businessman’s business, through which he contracted debt, particularly for the acquisition of shares of Millenium BCP, being the basis of the lawsuits filed against him by banking institutions.
“The administrative body of the José Berardo Foundation is limited to the practice of merely conservative acts of the foundational heritage and forbidden to practice acts involving the sale or encumbrance of any goods, social or financial holdings, as well as the assumption of new responsibilities,” reads the law published on Tuesday.
The statutes of the Foundation provided for “charitable, educational, artistic and scientific” purposes, having given rise to its recognition by the Regional Secretary of Social Affairs of Madeira, “as a private institution of social solidarity,” in 1991, later registered with the Institute of Social Security of Madeira, which was cancelled by order of November 26, 2019.
Read more at: Diário de Notícias
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