In its decision on 6 Ob 162/23 a published at the end of 2024, the Supreme Court highlighted important practical implications for the future design of powers of attorney in foundation law.

Specifically, it was clarified that a special power of attorney is required to amend the foundation declaration. In contrast to the GmbH, where no special power of attorney is required for amendments to the articles of association, foundation law now requires a precisely formulated power of attorney that precisely describes the specific transaction. According to the Supreme Court, a “normal” power of attorney is not (or no longer) sufficient to amend the foundation declaration, even if it has been notarized or even drawn up as a notarial deed.

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