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Law of the Republic of Moldova on Foundations
No 581-XIV of 30.07.99
Monitorul Oficial al R.Moldova No 118-119/556 of 28.10.1999
Article 20. Rights of Foundation
Rights, Duties and Conditions of Activity of Foundation
In conformity with its statutory purposes a foundation shall have the right to:
- support materially the activities of natural persons and corporate bodies provided by article 4 of this Law;
- freely disseminate information on its activities;
- establish its own mass media;
- carry out the publishing activity for the puprose of popularization of its activity;
- receive from public authorities an information necessary for the fulfillment of statutory activity;
- establish subsidiaries and representative offices;
- make uni- and multilateral bargains with natural persons and corporate bodies for research, technical, economic, financial and manufacturing cooperation, for performing work and providing services to achieve statutory objectives;
- carry out scientific researches and design work;
- support free realization of cultural and educational initiatives proposed by natural persons and corporate bodies as well as initiatives in political science, economics, mass media, public administration and other areas of science, art and culture;
- develop and finance specific educational and training programs in the country and abroad for citizens regardless of their social status and level of proficiency through the scholarship, grants, financial assistance, technologies, etc.;
- develop cultural, educational and scientific contacts between the Republic of Moldova and other nations on the basis of free exchange of ideas and information in the spirit of democracy and liberty;
- encourage and support materially a development of mass media and educational activity through organization of symposia, conferences and exhibitions both in the Republic of Moldova and abroad.
- support non-profit governmental, civic and private institutions, universities and schools of the Republic of Moldova.
Article 21. Right to International Contacts
In accordance with this Law and provisions of its Articles, a foundation may become a member of international non-governmental organizations and associations, establish and promote contacts with them, complete proper agreements and take part in actions which are not contradicting to the international obligations of the Republic of Moldova as a subject of international law.
Article 22. Duties of Foundation
(1) Foundation shall be bound to:
- comply with the Constitution, this Law, other legislations and Article of a foundation;
- insert necessary changes in the constituent documents in a case of introduction of ammendments in legislation or finding out contradictions between constituent documents and legislation;
- annually, submit to the Ministry of Justice the report which must contain data on activities of a foundation, fulfilled programs, sources of funding, total amount of funds used during the fiscal year, users of a foundation, amount of administrative costs. The report also must contain information on names of Board members and employees of a foundation, their relatives of I-III relationship degrees who used its funds and services in the reporting period as well as information on location of a foundation and identification data of its Head;
- within 15 days, notify the Ministry of Justice on location of a foundation if it has been changed.
(2) Failure to submit the information provided by point c) of part (1) of this Article within two years shall result in deletion a foundation from the State Register of Non-Profit organization on the grounds of court decision by the request of the Ministry of Justice.
Article 23. Conditions of Activities of Foundation
(1) Foundation shall have the right to carry out economic activity directly connected with the achievement of its statutory purposes.
(2) Any other economic activity of a foundation shall be carried out through its own enterprises which have a status of corporate body. The enterprises established by a foundation shall carry out their activities in conformity with the Law on Entrepreneurship and Enterprises, this Law and Articles of a Foundation.
(3) Records of administrative expenditures of a foundation must be kept separately from other expenditures. The administrative expenditures of a foundation of socially useful purpose must not exceed 20 % of its total payments. Administrative expenditures of a foundation shall include, in particular, assets related expenses, current expenses, expenditures on personnel, rewards for the Board members, trustees and auditor. Wages of employees of socially useful foundation must not exceed well those ones of governmental sector employees of the same qualification.
(4) The enterprises established by a foundation shall transfer payments to the budget in accordance with the procedure determined by legislation.
(5) The enterprises set up by a foundation shall register in accordance with the established procedure. Foundation and enterprises set up by it must obtain licenses for activities to be licensed.
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