R2E2 Board of Trustees

The higher management body of the Fund is the Board of Trustees (BT) of the Fund that has a control function as well.

The BOT has 9 members, who cannot be members of another body of the Fund.

The Board is comprised of representatives from public administration bodies, representatives from state and civil sectors, whose knowledge and experience meet the requirements set forth for a member of the BT. The representative composition of the BT is defined by the Charter of the Fund. The nominal staff of the BT has been approved by RA Prime Minister’ s Decree N 572-A from 26^th of July, 2005.

The scope of authority of the Board:

• Approval of the Strategic Plan (Plans) of the Fund,
• Approval of the Fund’s budget, amendments in the budget, Annual Financial Reports, Annual Activity reports,
• Approval of the procedure of property management of the Fund,
• Making a decision about reorganization of the Fund,
• Selection of new members of the Board and decisions about early termination of duties of the Board members,
• Elections of the Chairman of the Board of Trustees, Director of the Fund and termination of his/her duties, including early termination,
• Approval of the Management of the Fund, upon proposal by the Director,
• Decisions about making an amendment or addendum in the Charter of the Fund, approving a revised Charter,
• Decision about creation of business unions or participation in such, as well as about creation of separate subdivisions and institutions and approval of their charters,
• Control of financial and economic activity of the Fund,
• Hearings of the quarterly reports of the Director of the Fund,
• Control of the process of implementation of its decisions,
• Selection of the person to conduct the audit of the Fund,
• Implementation of other duties envisaged by law and by this Charter

The authority of the Board cannot be assigned to another body.

COMPOSITION OF BOARD OF TRUSTEES