Order 047: Alduria Foundation

[Seydlitz]

Government of the Republic of Alduria
President Gerhardt Eugen Seydlitz
ORDER 047

In accordance with the Alduria Foundation Act, 1673, as amended,

Pursuant to my authority as President of the Republic of Alduria, and the provisions of the Constitution of Alduria, I hereby promulgate the following:

SECTION I. Alejandro Jose Campos, former President of Alduria, is hereby appointed Chairperson of the Alduria Foundation.

SECTION II. In accordance with Article 4, Section 13 of the aforesaid law, adequate office space within the Executive Mansion shall be provided to the Alduria Foundation for the entirety of my term and tenure as President of Alduria.

SECTION III. In accordance with Article 4, Section 7 of the aforesaid law, matters necessary for the operation and management of the Fund for International Exchanges shall be as prescribed by resolution of the Board of Directors of the Foundation, provided that true copies of all resolutions and minutes of the meetings of the Board of Directors and its committees are furnished the Office of the President; provided further that the President may exercise his prerogative to veto or amend these regulations at his discretion, in accordance with law. The sole depository of the Fund for International Exchanges shall be the Bank of Alduria. Administrative and operational funds of the Foundation shall be deposited in the Bank of Alduria and Trade Bank of Alduria, and such other banks as the Board may, by resolution, provide.

SECTION IV.  In accordance with Article 4, Section 12 of the aforesaid law, necessary matters concerning the subject matters, amount, etc. of fund-raising shall be as prescribed by resolution of the Board of Directors of the Foundation, provided that true copies of all resolutions and minutes of the meetings of the Board of Directors and its committees are furnished the Office of the President; provided further that the President may exercise his prerogative to veto or amend these regulations at his discretion, in accordance with law.

SECTION V. In accordance with Article 4, Section 15 of the aforesaid law, the borrowing of funds from international organizations, foreign governments or foreigners is hereby allowed by the Office of the President, provided that prior approval for each proposal must be first secured from the President and the Secretary of State, in accordance with law.

SECTION VI. In accordance with Article 5, Section 2 of the aforesaid law, the business plan and draft budget for each business year shall be as prescribed by resolution of the Board of Directors of the Foundation, provided that true copies of all resolutions, minutes, business plans and draft budgets of the Board of Directors are furnished the Office of the President; provided further that the President may exercise his prerogative to veto or amend these documents at his discretion, in accordance with law. 

SECTION VII. In accordance with Order 002 and the aforesaid law, funds necessary to implement this Order shall be withdrawn from the Development Fund of Alduria, as follows:

a. One Billion Ecus to the Fund for International Exchanges of the Aldurian Foundation, provided that no more than 20 million Ecus thereof shall be disbursed every calendar year, provided further, that no more than 5 million Ecus of the aforesaid 20 million shall be disbursed for administrative and operational costs of the Foundation; provided finally that donations and revenues from other sources to the Fund for International Exchanges of the Aldurian Foundation shall not be subject to the limitations imposed under this provision.

b. Twenty million Ecus shall be to the credit of the Aldurian Foundation for its initial administrative and operating costs, in addition to the sums already disbursed in accordance with this section.

c. The Bank of Alduria shall manage the Fund for International Exchanges in such a manner to generate adequate returns while ensuring absolute security of the entire amount.

d. The Office of the President and the Secretary of State shall be provided a monthly balance statement and a monthly revenue and expenditure statement, as well as quarterly and reports on the  activities of all funds under the stewardship of the Alduria Foundation.

SECTION VIII. This Order takes effect on its approval.

SIGNED,

SEYDLITZ
President of the Republic of Alduria.

[Marco Zimmer]

Signed