The Executive Yuan National Science and Technology Development Fund (hereinafter referred to as the “Fund”) has been established in accordance with Article 12, Paragraph 1 of the Fundamental Science and Technology Act, for the purposes of improving capabilities in scientific and technological research and development, encouraging outstanding personnel in scientific and technological research and development, enhancing scientific and technological research facilities, and subsidizing the use of research and development results. These Regulations have been drafted in accordance with Article 21 of the Budget Act.

(Deleted)

The Fund shall be a special fund as defined in Article 4, Paragraph 1, Subparagraph 2 of the Budget Act. When formulating budgets for subsidiary units, the Executive Yuan shall be the competent authority, with the National Science and Technology Council (hereinafter referred to as the “NSTC”) acting as the managing authority.

The Fund’s income shall come from the following
(1)Money appropriated by the government in accordance with budgetary procedures
(2)Part of the research and development results and its income that have been conferred to the central government
(3)The Fund’s investment revenue
(4)Interest on the Fund’s financing revenue
(5)Donations and pledges
(6)The Fund’s interest revenue
(7)Other related revenue

The Fund shall be utilized for the following purposes
(1)To promote the nation’s overall scientific and technological development
(2)To improve the environment for scientific and technological research and development
(3)To promote and subsidize basic research, applied research, and experimental development
(4)To promote popular science and technology education
(5)To train, recruit, and award scientific and technological personnel
(6)To promote international scientific and technological exchange and cooperation
(7)To promote scientific and technological exchange and cooperation between Taiwan and the People’s Republic of China
(8)To manage and transfer part of the research and development results and its income that have been conferred to the central government
(9)To invest in important scientific and technological research and development
(10)To finance the establishment of research institutions or to upgrade the industry’s technological research and development environment
(11)To acquire, expand, and improve assets
(12)To support management and general administration expenses
(13)To support other related expenditures

A Management Board (hereafter the “Board”) consisting of five to seven members shall be established for the Fund. The Minister of the NSTC shall serve as Convener of the Board, and the remaining members shall include the Executive Yuan Minister without Portfolio in charge of science and technology affairs, the Minister of Economic Affairs, the Minister of Finance, and the Minister of the Directorate-General of Budget, Accounting and Statistics. All members of the Board shall be nominated by the Premier of the Executive Yuan.

A Deputy Minister of the NSTC shall serve concurrently as the Executive Secretary of the Board, in charge of executing decisions made by the Board and managing the Board’s general affairs, under the direction of the Convener. The Board shall also appoint one full-time or part-time Deputy Executive Secretary to assist in the management of general affairs. The Board may form additional task forces as deemed necessary for its operations, and the personnel required for these task forces shall be selected from the current employees of relevant organizations. These employees shall serve concurrently on the task forces and receive their salary from the original organizations. When necessary, the Board may appoint several professional experts in accordance with relevant regulations.

The Board shall be responsible for
(1)Reviewing and deliberating on the utilization of the Fund
(2)The revenues, expenditures, and safekeeping of the Fund
(3)Assessing the utilization and administration of the Fund
(4)Other matters pertaining to the Fund

The Board shall meet once every two months. When necessary, the Convener may convene an emergency meeting. If the Convener cannot attend a meeting, he/she may delegate a member of the Board to act in his/her stead as Convener for that meeting.

In principle, only those research and development projects or institutions that can assist in upgrading the industry or raising national science and technology standards are eligible to receive the Fund’s investment or financing.

The Board may designate a financial institution to oversee its investment and financing operations.

The Fund’s capital shall be managed and utilized in a manner that emphasizes profitability and security. The Fund’s savings shall be managed according to the Government Treasury Act and related laws and regulations.

To meet the needs of operations, the Fund may be used to purchase government bonds, treasury bills, or other short-term notes.

The managing authority shall formulate and administer budgets and prepare financial statements of the Fund in accordance with the stipulations of the Budget Act, Accounting Act, Financial Statement Act, Audit Act, and relevant laws and regulations.

An accounting system shall be drawn up in accordance with relevant regulations to handle all accounting matters of the Fund.

At the end of each fiscal year, any surplus in the Fund’s final accounts shall be accumulated or paid to the National Treasury according to statutory requirements.

In the event Fund operations are terminated, a final balance shall be settled and any residual rights and benefits shall be paid to the National Treasury.

These Regulations shall come into effect upon the date of promulgation.