186 tal-2010 - Ordni tal-2010 dwar it-Trust tal-Università għar-Riċerka, Innovazzjoni u Żvilupp

L.N. 186 of 2010

EDUCATION ACT

(CAP. 327)

University Research, Innovation and Development Trust

Order, 2010

BY VIRTUE of the powers conferred by article 131 of the

Education Act, the Prime Minister has made the following Order:-

(1) The title of this Order is the University Research, Citation and

commencement.

Innovation and Development Trust Order, 2010.

(2) This Order shall come into force on the 1st May, 2010.

There is hereby established a trust to be known as the Creation of

University Research, Innovation and Development Trust (hereinafter trust.

in this Order referred to as "the Trust") which shall be a trust

(a)

established for charitable purposes as defined in the

Trusts and Trustees Act; and

(b) which shall be an entity falling under the

supervision and control of the University of Malta in the same

manner and to the same extent as though it were established by

the said university; and

(c)

to which the provisions of the Trust and Trustees Cap. 331.

Act and any regulations made thereunder including the

University Research, Innovation and Development Trust L.N. 185 of

2010. (Exemption) Regulations, 2010, shall apply.

The Trust shall receive any settlements and donations of Objective of

trust.

any type and in any manner, whether inter vivos or causa mortis.

The trustees of the Trust shall be the Board of Trustees Appointment of

composed as set out in article 5, hereinafter referred to as "the trustees.

Trustees".

The Board of Trustees shall be composed of not less than Composition of

three and not more than seven members, one of whom shall be the Board

Trustees.

Rector of the University of Malta ex officio, together with at least two

of the following

(a) the President of Council of the University of Malta

ex officio;

(b)

the Governor of the Central Bank of Malta ex

officio;

(c)

the Permanent Secretary of the Ministry of Finance

ex officio;

(d) two other persons appointed by the Prime Minister

from amongst the members of the Council of the University of

Malta.

Any bank account in which any of the funds of the Trust

are deposited shall be held in the name of the Trust

Provided that

(a)

all instructions in connection with the operation of

such an account shall be signed by at least two Trustees, and

(b) the Trustees may from time to time appoint any one

or more persons (who need not necessarily be Trustees) to act as

signatories in respect of the said bank account with such powers

and subject to such terms, conditions and limitations as the

Trustees shall deem appropriate.

€0.19