The Lower House of Egypt approves draft law to set up a fund to take care innovators lab
In a serious step encouraging the owners of the innovations in different fields, approved by the Senate yesterday on the draft Gao provided by the government to set up a fund to take care innovators.
According to the ord by the secretariat of the council in the Evening Bulletin as stated in Article II of the special law passed : the fund aims to support the financing of care for researchers and innovators, support the financing of projects of Science, Technology and innovation, and finding new mechanisms to finance by encouraging individuals and the private sector sectors to do so.
The financing mechanism of the fund or expenditure area of operations for conflict.
The following is the text of the law :
Be established a fund called the welfare fund innovators lab are not public, the competent minister through scientific research, based in the mainland province of law, and the establishment of other branches in all over Arab Republic of Egypt decision of the board of management, referred to in this law to the fund.
The fund aims to support the financing of care for researchers and innovators, support the financing of projects of Science, Technology and innovation, and finding new mechanisms to finance by encouraging individuals and the private sector sectors to do so.
Sold fund all competencies required to achieve its objectives in accordance with Article (2) and in particular:
1 – support and financing of care for researchers and innovators, embrace fund their research ideas or innovation and development, including contributing to the transformation of their innovative ideas for products marketable in a competitive manner and help create marketing opportunities.
2. provide scholarships for innovators lab of students to complete their studies at home or abroad
3. contribute in the establishment of a supportive environment for researchers and innovators in collaboration with institutions and funders for their ideas, research and innovation, such as banks and corporations among others.
4. incorporate Clause (4) with Item (1).
4 – contribute in conducting market studies and feasibility studies and making them available to researchers and innovators.
5 – contribute in conducting market studies and feasibility studies and made available to network researchers and innovators
6 – to help researchers and innovators to protect their intellectual property rights.
7. work on creating opportunities for partnership between researchers and innovators and funding to implement projects based on the implementation of their research ideas or innovation.
8 – work on the creation of the partnership between the youth researchers and innovators and funding to implement projects based on the implementation of their research ideas or innovation.
The budget of the fund and its resources
Rubbed the fund for the licensing fee gets to one when issuing the decision to run the side of your eligibility and the amount of 5% of the planned budget of the university, also charged an additional amount of 5% of the annual budget for the group’s own competence when issuing a decision to approve the adjusted data with the University.
Also imposes an annual fee in the amount of 2% of tuition for the students of private universities, competence, and in exchange for services provided by the fund law innovators of the students of those universities, to be repaid in cash or to one of the accepted methods of payment other.
Consist of resources and sources of financing of the fund comes:
1: money allocated by the state fund.
2. Donations, gifts and grants in cash or in kind received from natural persons or legal persons which are accepted by the board of directors not inconsistent with its purposes.
3. Loans to be held for the fund through the relevant organs of the state.
4. Compared to exploiting the outputs of research projects or innovative services that are financed by the fund with respect to intellectual property rights as agreed.
5. For the services provided by the fund to others.
6. Gets the amount of 1% of the net profits of special units in universities, government institutes, centers and research bodies affiliated to various ministries.
7. Compared to the fees stipulated in Article (4) of this law.
8. Return on investment of the fund.
Be for the fund an independent budget, and begin the fiscal year of the fund beginning with the fiscal year of the state ends ends, as to be Fund a special account number uniform to all banks at home or abroad – in which to deposit all its resources and sends the surplus of the fund from one fiscal year to another and the exchange of the account in accordance with the rules established by a decision of the board of Directors of the fund.
Making the fund all amounts deposited in account No. 90000 the key to all Egyptian banks on behalf of the (Ministry of higher education and scientific research – fund to take care innovators lab).
And all the resources of the fund to the control of the Central Auditing Organization in addition to the delegates of the Ministry of finance, the Governing Council may contract with the auditor, external.
The second chapter
Exempt from all taxes and fees returns of the fund and credit facilities granted to him shall not apply to the fund, the provisions of stamp duty law and the development of the resources of the state, as not being subject to any kind of fees and indirect taxes currently imposed or imposed in the future.
And donations directed to the fund from the tax base of the donor according to a specific law.
Take over the management of the Fund Board of directors constituted by a decision of the chairman of the Council of ministers under the chairmanship of the competent minister through scientific research and membership of the six experienced members to have among them a member of the Technical Research Centre of armed forces, and the executive director of the fund.
The duration of the membership of the board of directors two years renewable, and the board of directors to form one or more committees entrusted with the temporary some of the tasks and can delegate the chairman of the board of directors in some of the tasks involved in its terms of reference several items number (2 and 1) of Article (9) of this law.
The executive director from the chairman of the board of management of the fund in case of his absence from meetings of the board of directors.
The board of the fund is the authority in charge of its affairs and the costs of affairs and its terms of reference as set out in this act, and to take the necessary decisions to achieve the purposes for which the fund was established and in particular:
1. adoption of the draft annual budget of the fund.
2. adoption of the general plan for the fund and its implementation mechanisms to achieve its objectives.
3. development of internal regulations related to technical, financial and administrative regulations of the human resources and remuneration of employees and other regulations concerning the organization of work of the fund, without limitation by the rules and regulations in the administrative body of the state.
4. look in the periodic reports provided for the functioning of the fund.
5. put rules and controls, mechanisms involved in the marketing of the outputs of research projects and innovation that the fund is funded, as well as the distribution ratio of the yield of the marketing of these outputs ensure to stimulate and encourage young researchers and innovators.
6. adoption of mechanisms and controls arbitration of the proposals submitted to the fund for funding.
7. adoption of the engagements and business that enable the fund to operate.
8 – the proposal to hold the loans and the destruction of their sources of funding.
9: determine the target groups for each programme, which UNFPA works to implement them
The board of Directors meets at the invitation of its president at least once every three months and whenever necessary, and have a meeting right in the presence of a majority of its members, and its resolutions by a majority vote of those present, and when delivery is due, the president, the council may invite to attend its meetings to see to use their experience without to have their votes counted.
Be for the fund an executive director who shall be appointed with his position and his financial resolution of the president of the Council of Ministers upon proposition of the minister competent for research, and appointed for two years renewable.
Can be executive director of the fund before the judges and they relate to others, and be responsible to the board of directors on the functioning of the fund’s technical, administrative and financial affairs, and shall have the powers of the minister provided in the laws and regulations for the fund and shall in particular include the following:
1 – implementation of the resolutions of the board of directors.
2. conduct its affairs and supervise the conduct of its business.
3 – presentation of periodic reports to the board of directors on the activity of the fund and its operation, and what has been accomplished in accordance with the plans and programmes, identify obstacles to performance, and proposed solutions to avoid them.
4. do any of the work or functions assigned by the board of directors.
5 – other terms of reference specified by the regulations.
In the conditions of the vacancy of the Office of the executive director of the fund regret the minister competent with scientific research. of the expected value function.
Equivalent to executive director in the performance of his duties is a sufficient number of experts, technicians and administrators are hired for a temporary period may be renewed in accordance with the regulations that are set by the board in coordination with the concerned authorities of the state, may also be scar tissue a number of employees in ministries and public bodies for the fund.
Raise the board of the Fund chairman of the Council of ministers an annual report during the month of July of each year to review all the work and achievements of the fund set out in the strategic plan of the fund and their achievements
Allocated to the state by its land and buildings to achieve the objectives of the fund and its objectives
Think of the fund of public funds, and the fund for the acquisition of its rights to take administrative sequestration procedures in accordance with the provisions of law 308 of 1955 regarding administrative sequestration
Come University special eligibility shall be fined not less than one hundred thousand pounds and not exceeding one million pounds in the case of non-commitment to supply the official stipulated in Article (4) in the schedule.
The prime minister shall issue the executive regulations of this law within six months from the date of the work.
This law shall be published in the Official Gazette, and shall take effect from the day following the date of its publication.
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