The “Foundation for economic development” and social-Hispano-Moroccan is a private organization with foundational nature, non-profit.

The formed Foundation, has its own legal personality and full capacity to act, and may perform all acts which are necessary for the fulfillment of the purpose for which has been created, subject to provisions in the legal system.


ARTICLE 6.-Purposes the Foundation aims:
Objectives: • promote the social and economic exchange in the environment of the border of Spain and Morocco, through the study and development of common economic and business alternatives. • Lay the groundwork for business between the two sides of the border cooperation. • Discuss the State of relations Hispano Moroccan from the point of view of economic, social, political and cultural; and evaluate its impact on the common border area and, especially, the possibilities of mutual development. • Promote human potential of its inhabitants, through the development of appropriate systems of vocational training. • Analyze the impact of relations hispano – Moroccan in the joint development of the area and its potential for improvement. • Study and define opportunities for investment in the trans-border region. • Disseminate, in an effective manner, such information, in order to get conditions to potential investors and other related audiences. • Tasks of intermediation with financial agents and public institutions, national and supranational, which may contribute to the development of investment processes. • Promote cross-border investment processes in the area, creating the suitable systems for these occur. • Collaborate with Moroccan development institutions so that investment processes, efficiently occur in mutual interest.

The development of the purposes of the Foundation shall be made through some of the following forms of action: carrying out studies and reports on the economy of the area and its role in the whole of the Spanish-Moroccan economic exchange. Analyzing and defining sectors and specific productive activities with potential for common development. Conducting forums, debates, seminars and meetings to inform, discuss and move the information generated. Creating a web page in Spanish, French and English which serves as a permanent forum of exhibition opportunities and discussion of proposals. Making presentations of information generated before concerned, national and foreign entrepreneurs. Actively mediating in the search for financing of specific projects. Promote the beginning of concrete business projects. Carrying out actions of promotion and dissemination related to the foundational objectives.


ARTICLE 11-NATURE. The Board is the organ of Government, representation and administration of the Foundation, which will fulfill the Foundation’s purposes and administer diligently the property and rights that make it up, fully maintaining the performance and usefulness of the same.

ARTICLE 17.-THE PRESIDENT. Corresponds to the President to represent the Foundation before all kind of people, authorities and entities, public or private; convened meetings of the Board of Trustees, will preside over them, will conduct its discussions and, where appropriate, execute agreements, being able to do so perform all sorts of acts and sign those documents required for this purpose. Likewise, it will drive during his tenure, the fulfilment of the aims and objectives of the entity.

ARTICLE 19.-THE SECRETARY. Functions of the Secretary the custody of all documents belonging to the Foundation, are raise the records corresponding to the meetings of the Board of Trustees, to issue certifications and reports which are necessary, and all those expressly entrusted to him. In cases of illness, absence or be vacant post, will be Secretary to the patron saint of elderly.

Exercise the high inspection, monitoring and orientation of the work of the Foundation and approve the plans of management and performance of its regular programmes. Interpret and develop these statutes; and, respecting the timely complementary regulations, adopt agreements amending the same, whenever it is convenient to the interests of the Foundation and the better attainment of its purposes. Fix general guidelines on the distribution and application of the available funds among the purposes of the Foundation. Grant and revoke General and special powers. Approve regular and special budgets, annual action plans, timely reports, as well as the economic Balance and annual accounts that have to be submitted to the protectorate. Change the address of the Foundation and agree on opening and closing of their delegations. Adopt agreements on the termination or fusion of the Foundation in the event of impossibility of fulfillment of its objectives. Delegate its powers in one or more trustees, without that may be subject to delegation approval of accounts and of the plan of action, modification of the statutes, merger and liquidation of the Foundation, nor acts requiring the authorization of the protectorate. Remember the acquisition, alienation and assessment – including mortgages, clothes or antichresis – movable property or property to or by the Foundation, by signing the corresponding contracts. Make all necessary payments, including costs to collect, manage and protect the funds with which count in every moment the Foundation. Remember the realization works deemed suitable for the purposes of the Foundation, deciding if on properly and supplies of all kinds, any that was their quality and importance, and with absolute freedom to use any procedure to do this, both the direct acquisition as the auction or competition, without the need for any authorization. Exercise all rights, actions, and exceptions, continuing along all its procedures, instances, incidents and resources many procedures, records, claims and judgments remedies or interest to the Foundation and giving the effect the powers that it deems necessary, including the acquittal of positions and the trial of review. Exercise, in general, all functions of disposal, administration, conservation, custody and protection of the assets of the Foundation, judicial or extra-judicially. In general, many other functions should be developed for the Administration and Government of the Foundation, with submission in any case the legal requirements.

The Board of Trustees shall be validly constituted when there are at least half plus one of its members. Agreements shall be adopted by simple majority of votes, except where the statutes provide for special cases of adoption of agreements. Meetings of the Board shall be by the Secretary the corresponding certificate, which shall be signed and approved by all the members present in the same. It will transcribe the corresponding book and shall be signed by the Registrar with the approval of the President. Employers may delegate his vote in writing on other employers, which must always conform to the instructions received.

In his performance the Board of Trustees shall conform to provisions in the legislation in force and the will of the founder manifested in these bylaws. The Board is responsible meet the Foundation’s purposes and administer the property and rights that make up the patrimony of the Foundation, fully maintaining the performance and usefulness of the same. The Board will give enough of the aims and activities of the Foundation information, so they are known by their potential beneficiaries and other stakeholders.

ARTICLE 24.-DUTIES AND RESPONSIBILITIES OF EMPLOYERS. Among others, are obligations of employers do to ensure compliance with the aims of the Foundation, attend the meetings which are convened, play the charge with the diligence of a loyal representative, maintain in good state of conservation and production goods and values of the Foundation, and in its performances meet determined in the legal provisions in force and these statutes. Employers will respond to the foundation of the damages caused by acts contrary to the law or the statutes or those carried out carelessly. They shall be exempt from liability those who voted against the agreement and those who prove that, not having participated in its adoption and implementation, they were unaware their existence, or knowing it, made it convenient to avoid damage, or unless expressly objected to it.
The liability action will begin, before the judicial authority and on behalf of the Foundation: by the own governing body of the Foundation, motivated agreement of the same, in whose adoption will not participate the affected employer. By the protectorate, in the terms established by law. By dissenting or absent employers in accordance with statutory regulations. Employers will not run activities for themselves, but that its contribution will be made through the Board of Trustees, although if they will help, within their means, to implement positive of the foundational objectives.

ARTICLE 25.-Free character of the position of the employers employer exercise its charge free of charge, without prejudice to the right to reimbursement of the duly substantiated expenses incurred by the performance of its function. Notwithstanding the provisions of the preceding paragraph, the Board of Trustees will set compensation appropriate to those employers who provide services other than those that involve the performance of the functions that correspond to them as members of the Board of Trustees, prior authorisation of the protectorate to the Foundation.

ARTICLE 27.-BOARD OF HONOR. The patronage of honour composed by physical or legal persons, selected for their special significance in relation to the Foundation’s purposes and activities of the Foundation. The Board of Trustees of the Foundation, unanimously, remember the appointment and dismissal of members the Board of honour. Their duration is indefinite and will they be integrated in one of the following categories: Honorary President. Patron of Honor. Prior communication to the President, these honorary members of the Foundation may attend with voice but without vote, at meetings of the Board of Trustees.