Circular 03: Duties and Powers of the Management Council of the Science and Technology Development Fund in Vietnam

Circular 03: Duties and Powers of the Management Council of the Science and Technology Development Fund in Vietnam (Internet image)

The sample charter issued together with Circular 03/2015/TT-BKHCN specifically defines the duties and powers of the Management Council of the Fund as follows:

- Deciding the direction and operational plan of the Fund based on the prioritized orientations for science and technology development of the ministry (or province);

- Approving the annual operational and financial plans of the Fund as proposed by the Director of the Fund;

- Submitting to the Minister (or Chairman of the Provincial People's Committee) for appointment or dismissal of the Director of the Fund, Deputy Director of the Fund, and Chief Accountant of the Fund;

- Issuing documents regulating the activities of the Fund's Executive Agency, the Fund's Supervisory Board, the Science and Technology Council; submitting to the Minister (or Chairman of the Provincial People's Committee) for issuance of documents regulating the operational activities of the Fund;

- Monitoring and inspecting the activities of the Fund's Executive Agency, the Fund's Supervisory Board in implementing the State regulations, the Organization Charter and Operation of the Fund, and the resolutions of the Fund's Management Council;

- Approving the operational plan of the Supervisory Board, reports on control results, and financial settlement appraisal reports of the Fund's Supervisory Board;

- Establishing the Science and Technology Council to provide professional advice for the Fund;

- Deciding on funding, loans, support, and loan guarantees according to the provisions of this Charter;

- Proposing to the Minister (or Chairman of the Provincial People's Committee) to amend or supplement the Organization and Operation Charter of the Fund;

- The Management Council of the Fund uses the organization and seal of the Fund in carrying out its duties and powers according to the Organization and Operation Charter of the Fund;

- Performing other rights and obligations as prescribed by law.

Additionally, the sample charter issued together with this Circular also outlines working policies of the Management Council of the Fund as follows:

- The Management Council of the Fund operates on a collective working policy; meets quarterly to review and decide on issues under the duties and powers of the Fund's Management Council; holds extraordinary meetings to address urgent issues as proposed by the Chairman of the Management Council of the Fund, or the Director of the Fund, or the Head of the Supervisory Board of the Fund, or at least 2/3 of the members of the Fund's Management Council proposing;

- For issues requiring decisions between meetings, the Fund's Executive Agency sends documents and Ballots for opinions to each member of the Council;

- Meetings of the Fund's Management Council are considered valid when at least 2/3 of the members are present and must be chaired by the Chairman of the Fund's Management Council or the authorized Vice-Chairman of the Council. The Management Council of the Fund decides issues by majority vote out of the total number of Council members. In case of a tie vote, the final decision belongs to the opinion of the Chairman of the Fund's Management Council. The contents and conclusions of the Council meetings must be recorded in minutes and sent to all members of the Fund's Management Council.

Note: The operating expenses of the Fund's Management Council are included in the management expenses of the Fund.

Details can be found at Circular 03/2015/TT-BKHCN which comes into effect in Vietnam from April 23, 2015.

Ty Na

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