In order to accelerate the development of industrial technology, the Industrial Technology Research Institute has been established in addition with the stipulation of this act.
This institute is a non-profit corporation, and it was established according to the rules in this act; for the rules not stipulated in this act, the other law-related rules will be applicable.
This institute accepted NT$1 million as the establishment fund donated by the central government, and further accepted all of the assets donated in accordance with legal procedures for the establishment from the Union Industrial Research Institute, Union Mining Research Institute and Metal Industry Research Institute belonging to the Ministry of Economic Affairs.
The sources of budget for this institute are as shown on the left:
I. Income from commissioned researches and services provided.
II. Donations from domestic and foreign private and public organizations or individuals.
When the central government approves with the performance of the research outcomes based on the donation provided in accordance with the previous article II, the same amount of budget as from the Union Industrial Research Institute, Union Mining Research Institute and Metal Industry Research Institute belonging to the Ministry of Economic Affairs will be donated according to the budget procedure.
The competent authority for this institute is the Ministry of Economic Affairs.
The board of directors for this institute consists of 11 to 15 directors, amongst which 1 person is the president, which are all selected from the list of personnel on the left by the premier of Executive Yuan:
I. Superintendents from the peripheral organizations of Executive Yuan.
II. Domestic and foreign experts as well as scholars experienced in the research of science and technology.
III. Public and civil enterprise personnel.
The number of directors selected according to the previous mentioned first article must not exceed 3 people, where their term of office will continue or end depending on their positions; the number of directors selected according to the previous mentioned second and third articles must not exceed 6 people, each with a three-year term of office, with one renewed employment applicable upon the expiration of the term. However, the number of renewed employment may not exceed half of the total number of people.
The board of supervisors for this institute consists of 3 to 5 people, where one person is the managing supervisor, and are all selected by the premier of Executive Yuan with a three-year term of office, and renewed employment is applicable upon the expiration of the term. However, the number of renewed employment may not exceed half of the total number of people.
Managing supervisors should be present for the meetings for the board of directors.
There is one president for this institute, and one or two vice presidents, which are all selected by the premier of Executive Yuan.
The president is commanded and supervised by the board of directors to handle the institute affairs. Vice presidents assist with the institute affairs.
The peripheral divisions of this institute may be established after obtaining approval from the competent authority for the demands of businesses or researches, and the same applies in the situation of alterations.
The business year of this institute should be consistent with the fiscal year of the government.
The budget and final accounts will be processed according to the following procedure:
I. At the beginning of the year, a work plan should be established to set the budget for income and expense, which will be reported to the competent authority after approved by the board of directors.
II. At the end of the year, the report on work execution results and the final accounts of income and expense should be established, which will be reported to the competent authority after approved by the board of supervisors.
The plan, budget, final accounts and report listed in the previous article I and article II should be submitted by the competent authority to the Executive Yuan, and passed onto the Legislative Yuan.
The donation charter rules for this institute is stipulated by the donator in accordance with this act as well as the relevant laws.
When this institute could not accomplish the goals set in the Establishment Act due to the change of circumstances, it may be dismissed; liquidation will be carried out legally after the dismissal, where every single asset will be donated to the central government.
This act is came into force since the announcement date.