Fund Charter

“Pension System Awareness Center” Fund

1. “Pension System Awareness Center” Fund (hereinafter referred to as the Fund) is a non-commercial organization established on the base of the voluntary estate fees of the founder and doesn’t have members, which is aimed at the social, scientific, educational and other public purposes.
2. The founder of the Fund is the Republic of Armenia, acting in the name of the Government of the Republic of Armenia. The relations between the Founder and the Fund are regulated by the legislation of the Republic of Armenia and the present Charter.
3. The Fund is not liable for the obligations of the founder, and founder is not liable for the obligations of the Fund.
4. In the process of its activity the Fund is governed by the legislation of the Republic of Armenia, other legal acts and the present Charter.
5. The beneficiaries of the Fund are the state administrative authorities involved in implementation of pension reforms of the Republic of Armenia, the business entities of the Republic of Armenia, workers, students, pensioners and other interested parties.
6. Name of the Fund is as follows:
1. in Armenian completely: “Կենսաթոշակային համակարգի իրազեկմա կենտրոն” 
2. in abbreviated form: ԿՀԻԿ 
3. in English completely:  “Pension System Awareness Center” Foundation 
4. in abbreviated form: PSACF 
7. The Fund has its  round seal with its name in Armenian and English.
8. The Fund has its own stamps, seals and blanks, as well as other means of identification.
9. The capacity of the Fund begins upon its state registration and terminates upon its liquidation. 
10. The legal address address of the Fund is: 13, Nalbandyan str., Yerevan, Republic of Armenia. 
11. The term of the Fund’s activities is not limited.

12. The subject and the goal of the Fund activities are to support the efficient implementation of the pension reforms, particularly:
1) providing consulting and professional support in the frame of the pension reforms;
2) raising the level of public awareness on the multi pillar  pension system.
13. The Fund's tasks are:
1) Providing consulting and professional support in the frame of pension reforms, including on-line;
2) implementing of Pension reforms public awareness activities  developing publicizing and distributing information and training materials about the pension reforms andmultipillar pension system;
3) organizing seminars and workshops for specific audiences of various  groups of population
4) Developing and maintaining  a unified web portal of the pension system;
5) developing  and implementing public education programs on pension reforms and multipillar pension system;
6) organizing of public discussions on pension reforms;
7) supporting the process of submitting personified reports by small and medium enterprises (employers), including technical assistance to the employers and appropriate knowledge transfer
8) supporting the Funded pension system participant in selecting their assets managers and pension funds (including the provision of the necessary services in the regions);
9) supporting the implementation of investment programs through Public-Private Partnerships;
10) Implementing Research projects,
11) Implementing educational and training projects in educational institutions;
12) Running the "Hot Line" service;
13) Conducting surveys  among the population;
14) Monitoring and Evaluation of the implemented programs
15) cooperation with the Government Institutions and local authorities, private and public companies, donor organizations and other interested parties for achieving the Charter objectives;
16) contributing to the Public participation of different groups of the society in the pension reforms and Pubic support.
14. The Fund's primary property is formed by the property transferred to the Fund by the founder.
15. The property transferred to the Fund by the founder is the Fund’s property.
16. The Fund has its own balance, is entitled to open settlement and other accounts in AMD and foreign currency in the banks of the Republic of Armenia and abroad, pursuant to the legislation of the Republic of Armenia.
17. The Fund may carry out entrepreneurial activity only when it serves to its Charter  objectives. For the purpose of realizing entrepreneurial activities, the Fund has the right to establish business companies or be the member of such organizations. The Fund has the right to establish its representative offices, branches and organizations.
18. The Fund may be engaged in the following types of the entrepreneurial activities:
1) development and implementation of educational and training programs;
2) organization and implementation of training and information seminars, courses, public awareness events;
3) development and publication of public information and education materials;
4) providing consulting services;
5) providing services by using e-governance tools;
6) implementing social and applied research, developing and implementing R&D projects;
7) Developing and distributing professional literature;
8) Implementing publication activities;
9) providing other services necessary for the operation of the pension system.

19. The Fund has separated property as an ownership, and for its obligations is liable by such property, may acquire and execute property and personal non-property rights, publish materials and have their copyrights, act as a plaintiff or respondent in the court.
20. Sources for the formation of the Fund property may be:
1) contribution made by the Fund;
2) donations and contributions from the physical and legal entities, including the donations and contributions made by foreign citizens, legal entities, international organizations,;
3) Contributions from the state budget of the Republic of Armenia;
4) Grants;
5) funds received from the entrepreneurial activities of the Fund and business companies established or participated by the Fund;
6) donations, received as result of fund raising activities (through cultural, sports, entertainment and other activities);
7) other means not prohibited by the law.
21. The founder may pass the property to the Fund for an unlimited period and without compensation.
22. The Fund possesses, uses and manages the property belonging to it, including the financial resources, in compliance with its objectives.
23. The Fund is obliged to publish the annual report on the use of the property belonging to the Fund 24. The Fund's property is under the state protection.
25. The management bodies of the Fund are: the Board of Trustees of the Fund and the Chief Executive Officer (hereinafter referred to as the CEO).
26. The Fund's highest management body is the Board of Trustees (hereinafter referred to as the Board), which manages the activities of the Fund as provided in the present Charter.
27. The first personal staff of the Board, as well as the Chairman of the Board are appointed under the decision of the Prime Minister of the Republic of Armenia.
28. The Chairman of the Board:
1) organizes the works of the Board;
2) determines and approves the agendas of the Board’s sessions;
3) calls the Board’s sessions by its own initiative, by the suggestion of any member of the Board or the Director;
4) presides over the sessions of the Board meetings and signs the protocols of the sessions;
5) controls over the execution of the decisions made during the sessions of the Board.
29. The obligations of the Chairman of the Board, in case of the latter’s absence, are realized by one of the members of the Board, by the Board's decision.
30. The exclusive competences of the Board are:
1) Making decision on the main directions of the Fund’s activities.
2) Making decisions on making amendments and supplements in the Charter of the Fund, approval of the Fund’s Charter in new edition;
3) Approval of the annual budget and programs of the Fund, approval of the annual financial reports of the Fund;
4) Approval of the results of the competition hold for the purpose of the appointment of an independent auditor for checking the reports of the Fund;
5) Using the property of the Fund according to its purposes, also control over the activities of the Fund’s CEO;
 6) Appointment and dismissal of the Fund’s CEO under the decision of the Chairman of the Board.
7) Approval of new members of the Board and making decisions on termination of  their obligations;
8) Reorganization of the Fund;
31. The Board realizes other authorities foreseen by the legislation of the Republic of Armenia and  the present Charter.
32. The Board organizes its works through sessions. Minutes are to be taken for each  Board sessionThe sessions of the Board are held regularly - at least twice a year.
33. The Board is eligible to make decisions if more than half of the members of the Board are present at the session. Each member of the Board has one vote. In case of vote equality, the voice of the Chairman of the Board gains the preference.
34. The decisions of the Board are made by the majority of the voices of the members present, except for the cases foreseen by the Law of the Republic of Armenia “On Foundations”.
35. In cases determined by the Board, the decisions of the Board are made through inquiry.
36. The members of the Board shall perform their duties under the public bases. A cash compensation can be defined for the member of the Board for the costs connected with the realization of the duties of the Law of the Republic of Armenia “On Foundations”.
37. The procedure of termination of the duties of the members of the Board and appointment of a new member is defined by the Law of the Republic of Armenia “On Foundations”.
38. The Fund's executive body is the CEO. The CEO is appointed by the Board, proposed by the Chairman of the Board.
39. The CEO:
1)  Organizes and manages the ongoing activities of the Fund, makes decisions on all issues except  those which belong to the exclusive authority of the Board;
2) is accountable for his/her actions and reports to the Board;
3) within his/her jurisdiction acts on behalf of the Fund without a power of attorney; represents its interests; represents the Fund in the Republic of Armenia and in foreign countries; manages the Company's property, including financial resources; concludes contracts, including employment contracts;  gives the powers of attorney, opens accounts in banking institutions; makes orders; gives obligatory instructions to the workers of the Fund; as well as carries out other liabilities granted by the Board and not contradictingthe legislations of the Republic of Armenia.
40. The rights and obligations of the CEO are defined by the Law of the Republic of Armenia “On Foundations”, by the present Charter and the Employment contract signed with the CEO. The Employment Contract is signed by the Chairman of the Board or his/her authorized person on behalf of the Fund.

41. The Fund keeps its accounting and represents the financial and other reports defined by the legislation of the Republic of Armenia.
42. The Fund’s CEO is responsible for the organization of the accounting of the Fund and its accuracy, for duly representation of the financial and other reports to the competent state bodies, also for the information about the Fund provided to the mass media.
43. The Fund's financial activities can be checked by the auditor.
VI. reorganization of the fund
44. The Fund is reorganized according to the procedure defined by the legislation of the Republic of Armenia, the decision on the Fund’s reorganization is made by the Board.

45. The Fund shall be liquidated in cases and by the order defined by the law.
46. After the creditors’ demands are satisfied, and if the Fund is not responsible before the creditors for the moment of the liquidation balance approval, the property is used for the purposes of the charter, and if it is found impossible, it is transferred to the state budget of the Republic of Armenia.
Chief of Staff of the Government

of the Republic of Armenia D. Sargsyan
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