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Act No. 119 on the obligation of non profit organizations to register.

Country/Territory
Iceland
Document type
Legislation
Date
2019
Source
FAO, FAOLEX
Subject
General
Keyword
Non-governmental entity Registration Procedural matters
Geographical area
Arctic, Atlantic Ocean Islands, Europe, Europe and Central Asia, North Atlantic, North-East Atlantic, Northern Europe
Abstract

The present Act lays down rules regulating non profit organizations which are established for the purpose of raising or disbursing funds for the public benefit and which specifically operate across borders. These organisations are required to be registered in a Register of Non Profit Organizations maintained by the Directorate of Internal Revenue. The Act contains 24 articles divided into the following Chapters: I. General provisions; II. Establishment of an organization; III. Membership and annual general meeting; IV. Administration of an organization; V. Dissolution of an organization; VI. Liquidation of an organization by a court order; VII. Registration in the Register of Non Profit Organizations; VIII. Sanctions; IX. Entry into force, etc. The Act contains detailed ruled on all aspects of the functioning of the organizations subject to regulation.

Full text
Icelandic/English
Website
www.althingi.is