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ANKARA - Turkish Parliamentary Justice Commission approved on Monday a bill on foundations which foresees restructuring the foundations.
According to the bill, community foundations` properties registered in 1936 Declaration and properties which they obtained after the 1936 declaration was issued will be registered under the name of the foundation.
The bill said that foreigners can establish foundations in Turkey, noting that foreigners can also serve at administration of foundations established in Turkey.
It indicated that foundations can obtain property and also dispose of their properties.
The bill noted that foundations could open branches and representative offices abroad, stating that they could also get donation from foreign organizations.
The bill is expected to be discussed in the meeting of Turkish Parliament General Assembly next week.