Section 7. Modification, merger, expiry and liquidation of the Foundation.
In accordance with article 23 of Ley 8/1998, dated 9th December, for Foundations of the Comunidad Valenciana and article 29 of Ley 50/2002, dated 26th December, for Foundations, these Statutes can be modified with the following limitations:
a).- Under no circumstances can the aims of the Foundation as established in article 3º of these Statutes be modified except at the ruling to the contrary of the Founder.
b).- It is forbidden to abolish the minimum requirements for access to the post of Board of Trustees contained in 5.4.2 of these Statutes.
Article 18º.-Merger of the Foundation.
The merger of this Foundation with another or others will be regulated by article 24 of Ley 8/1998, dated 9th December for Foundaions of the Comunidad Valenciana and other concordant regulations, and should meet the requirements detailed in these Statutes, that is: the prior judgement of the Scientific Board and the agreement of at least half plus one of the members of the Board of Trustees.
Article 19º.-Expiry of the Foundation.
The following will be reasons for the expiry of the Foundation, apart from those detailed in article 25 of the Ley 8/1998, dated 9th December, for Foundations of the Comunidad Valenciana and other applicable rules:
a).- Infraction of the limitations detailed in article 17 of these Statutes for the modification of the same.
b).- The express will shown by the Founder in writing during his term of office.
Article 20º.-Liquidation of the Foundation.
In accordance with article 26 of Ley 8/1998, dated 9th December, for Foundations of the Comunidad Valenciana and other legal applicable rules, the goods and assets resulting from the liquidation by extiction of the Foundation will be donated to the Universidad de Valencia whenever this manifests in writing its acceptance of them and promises to use the resources received for the same aims as the Foundation. This promise must be concise, evaluable and permanent. If this is not the case, the Board of Trustees will agree by the majority of its members, the public or private non-profit making entity to which the said funds should be destined in accordance with the current legislation.
For the purpose of replacement for compliance of the term of office detailed in article 4.2.1 for members of the Board of Trustees, the time of exercising of the term of office will be calculated from the date of nomination.
Point 13.II.e) of these Statutes limiting the availability of a percentage of the net yields of the Foundation's capital for structural expenses is suspended and will only come into effect from the succession of the President-Founder or, where applicble, beforehand if he himself decrees.