Regulations

I. General Provisions

1. The State Studies Foundation (hereinafter referred to as "the Foundation") is a budgetary institution financed from the State Budget of the Republic of Lithuania (hereinafter referred to as "the State Budget").
2. The possessor of the Foundation is the State. The founder of the Foundation is the Government of the Republic of Lithuania. The Foundation is an institution under the Ministry of Education and Science. The ownership rights and obligations (except for the decision making on the reorganization and liquidation of the Foundation and approval of its Regulations) are exercised by the Ministry of Education and Science. The  competencies  of the Ministry of Education and Science as excersising the rights and obligations of the possessor of the Foundation are defined in the Law on Budgetary Institutions of the Republic of Lithuania (Valstybės žinios (Official Gazette), 1995, No. 104-2322, 2010, No. 15-699) and other legislation.
3. The Foundation is a public legal person, having a seal with the state emblem of the Republic of Lithuania, its own name as well as bank accounts. The address of the head office of the Foundation: A. Goštauto str. 12, Vilnius, Republic of Lithuania.
4. The Foundation shall act in line with the Constitution of the Republic of Lithuania, laws of the Republic of Lithuania, international agreements of the Republic of Lithuania, resolutions of the Seimas of the Republic of Lithuania, decrees of the President of the Republic, resolutions of the Government of the Republic of Lithuania, ordinances of the Prime Minister, orders of the Minister of Education and Science, other legal acts and these Regulations.

II. Objective, Tasks and Functions of the Foundation

5. The objective of the activities of the Foundation shall be to administer State loans, State-supported loans, grants for students of the third cycle of studies, implement the other measures in order to ensure quality and accessibility of higher education.
6. The tasks of the Foundation - to implement the policy of science and studies, pursue quality and accessibility of higher education by administering the funds of the State allocated for this objective. 
7. The Foundation, in implementing the tasks assigned to it, shall carry out the following functions:
7.1. administer State loans and State-supported loans to students;
7.2. administer grants to students of the third level of studies in accordance with the procedure prescribed by the Board of the Foundation;
7.3. administer social grants to students of schools of higher education studying at the first, second or continuous study levels;
7.4. administer the repayment of all or part of the State funds allocated to cover the cost of studies of State-funded students to the State Budget when, in the cases and in accordance with the procedure prescribed by the Government of the Republic of Lithuania, State-funded students who are expelled from a school of higher education or terminate their studies must return the said funds to the State Budget;
7.5. shall administer compensation of a part of the cost of studies paid over a respective period of studies (which may not exceed the normative cost of studies), in accordance with the procedure and amount set by the Government of the Republic of Lithuania, for a part of non-funded students of the first-level or continuous studies who have the best performance record after the first two years (in the event of extended studies - after completing a half of the study programme) and after the remaining years of studies;
7.6. shall administer the granting of State support for the studies of children and grandchildren of expatriates and foreigners of Lithuanian descent at Lithuanian schools of higher education in accordance with the procedure prescribed by the Ministry of Education and Science;
7.7. shall implement the other measures assigned by the Minister of Education and Science in order to ensure quality and accessibility of higher education.
8. The Foundation's area of activities shall be the administration of financial assistance to students. The types of the Foundation's activities shall include administration of State loans and State-supported loans; administration of the provision of grants for students in the third level of studies; administration of repayment of all or part of the State funds allocated to cover the cost of studies of State-funded students to the State Budget when, in the cases and in accordance with the procedure prescribed by the Government of the Republic of Lithuania, State-funded students who are expelled from  a school of higher education or terminate their studies must return the said funds to the State Budget; administration of compensation of a part of the cost of studies paid over a respective period of studies (which may not exceed the normative cost of studies), in accordance with the procedure and amount set by the Government of the Republic of Lithuania, for some of non-funded students in the first-level or continuous studies who have the best performance record after the first two years (in the event of extended studies - after completing a half of the study programme) and after the remaining years of studies; implementation of the other measures in order to ensure accessibility and quality of higher education.

III. Rights of the Foundation

9. In carrying out the tasks assigned to it, the Foundation, within its competence, shall have the right:
9.1. to receive information and documents from public and local authorities and bodies, public institutions, non-governmental organizations, other enterprises, bodies, organizations as well as persons; in accordance with the procedure set by the legislation, to receive from State registers and use data necessary for the implementation of its tasks and performance of its functions;
9.2. to seek assistance of the representatives and specialists of other public and local authorities and bodies as well as international organisations with the agreement of their managers in analyzing the issues being addressed;
9.3. to organise conferences, seminars and other events in the Republic of Lithuania and abroad;
9.4. in accordance with the prescribed procedure, to submit to the Ministry of Education and Science proposals regarding the administration of financial assistance to students;
9.5. to enjoy other rights granted to the Foundation by the laws and other legal acts of the Republic of Lithuania.

IV. Management and Work Organization of the Foundation

10. The Director of the Foundation shall be a sole governing body of the Foundation. He shall be appointed for the 4-year term and dismissed by the Minister of Education and Science in accordance with the procedure laid down by the Law of the Republic of Lithuania on Public Service (Valstybės žinios (Official Gazette), 1999, No. 66-2130; 2002, Nr. 45-1708) by competition (not political (personal) confidence). The same person shall be appointed to perform the duties of the Director of the Foundation not more than two consecutive terms. Director of the Foundation shall be directly subordinate and accountable to the Minister of Education and Science.
11. The Director of the Foundation:
11.1. shall act on behalf of the Foundation and assume the responsibility for the implementation of the tasks and performance of the functions entrusted to the Foundation;
11.2. shall make sure that the Foundation acts in line with the Constitution of the Republic of Lithuania, laws of the Republic of Lithuania, international agreements of the Republic of Lithuania, decrees of the President of the Republic, resolutions of the Seimas of the Republic of Lithuania and the Government of the Republic of Lithuania, orders of the Minister of Education and Science, and other legal acts;
11.3. shall organize and coordinate the activities of the Foundation and adopt decisions on all issues pertaining to the activities of the Foundation, except the ones that fall within the competence of the Board of the Foundation;
11.4. as the manager of appropriations, shall be responsible for the use of the funds controlled by the Foundation, organize the development and implementation of State Budget-funded programmes, draft and approve the Foundation's programmes and their cost estimates, control and fulfil the Foundation's obligations, and ensure the lawfulness, cost-effectiveness, efficiency and productiveness of the use of State Budget appropriations and other funds;
11.5. shall organize the audit of the financial performance of the Foundation; in accordance with the procedure and time limits prescribed by the legislation, submit sets of financial and budget implementation statements, and ensure the correctness and timely delivery of sets of financial and budget implementation reports as well as statistical reports;
11.6. in line with the Law of the Republic of Lithuania on Public Service and other legal acts of the Republic of Lithuania, shall appoint and dismiss from office the Deputy Director and other public servants of the Foundation, conclude employment contracts with the staff of the Foundation, set their salaries, impose professional or disciplinary sanctions and apply incentives;
11.61 shall approve the job descriptions and the list, not exceeding established maximum number of positions allowed;
11.7. shall organize the improvement of the qualification of public servants of the Foundation according to special programmes serving this purpose;
11.8. within its competence shall publish orders and control their implementation;
11.9. in coordination with the Board of the Foundation, shall approve the Regulations of Granting Loans to Students;
11.10. shall adopt decisions on redistribution of unused State Budget funds as well as funds from repaid loans, interest and delinquency charges;
11.11. shall perform other functions assigned to it by the legislation.
12. If the Director of the Foundation is temporarily unable to perform his functions, they shall be performed by the Deputy Director.
13. The collegiate body of management of the Foundation shall be the Board of the Foundation.  The Board of the Foundation shall consist of 11 members:  the Director and the Deputy Director of the Foundation, at least two representatives nominated by the Ministry of Finance, at least two representatives nominated by the Ministry of Education and Science, at least two representatives nominated by institutions of science and studies, at least one representative of students, and representatives of other institutions and organizations. 
Members of the Board of the Foundation, except for the Director and the Deputy Director, shall not be the public servants or employed staff of the Foundation.
14. The Board of the Foundation and its Chairperson shall be approved for a term of four years by the Government of the Republic of Lithuania acting on a proposal from the Ministry of Education and Science.  The Board Chairperson shall preside over the Board of the Foundation and organize its work.  If the Board Chairperson is unable to carry out his functions, they shall be performed by the Vice Chairman of the Board of the Foundation.  The Vice Chairperson of the Board of the Foundation shall be elected by secret vote by the members of the Board of the Foundation at the first sitting of the approved Board of the Foundation. In the absence of the Chairperson, he shall be substituted by the Vice Chairperson of the Board of the Foundation.
15. The Board of the Foundation:
15.1. shall distribute the State Budget funds allocated to the Foundation for the purpose of granting State loans, covering of the interest on loans, and fulfilment of State obligations under a State guarantee as well as other commitments;
15.2. shall adopt decisions on the use of the Foundation's funds consisting of repaid loans, interest and delinquency charges as well as on the use of other non-budgetary funds;
15.3. shall award grants to students pursuing third-level studies;
15.4. shall perform other functions assigned to the Foundation of the Board by the legislation.
16. The Board of the Foundation shall adopt decisions at the meetings of the Board of the Foundation. The meetings of the Board of the Foundation shall be convened on a quarterly basis. An extraordinary meeting of the Board may be convened at the request of at least 1/3 of the members of the Board of the Foundation or the Chairperson of the Board of the Foundation or the Director of the Foundation.
17. The meeting of the Board of the Foundation shall be deemed legitimate if at least half of the members of the Board of the Foundation are present. The decisions of the Board of the Foundation shall be passed by more than a half of the votes of all the members of the Board of the Foundation present at the meeting.
18. If a question must be discussed and decided upon as an urgent matter, the members of the Board of the Foundation may cast their votes by electronic means. A vote shall be deemed legitimate if at least a half of the members of the Board of the Foundation vote electronically, while a decision shall be deemed adopted if more than a half of the members of the Board of the Foundation voting electronically cast their votes in favour of the decision. The material presented for the electronic vote and the results of the vote shall be attached to the minutes of the meeting of the Foundation of the Board.
19. All meetings of the Board of the Foundation shall be recorded in the minutes. The decisions of the Board of the Foundation shall be signed by the Chairperson of the Board of the Foundation and the secretary of the meeting. One of the members of the Board of the Foundation shall be elected secretary of the meeting at the start of every meeting by a simple majority of votes.
20. The Director of the Foundation shall bear responsibility for the implementation of the decisions of the Board of the Foundation.
21. Commissions, workgroups and expert committees may be formed to deal with the issues arising in the course of performing the functions assigned to the Foundation.

V. Sources and Use of Funds and Financial Activity Controls

22. The funds of the Foundation shall consist of:
22.1. State Budget appropriations to the Foundation;
22.2. target funds of Lithuanian and foreign natural and legal persons;
22.3. Funds accumulated from repaid interest on loans and delinquency charges as well as other funds repaid or recovered in the course of carrying out the functions assigned to the Foundation;
22.4. other lawfully obtained funds.
23. (Lapsed) 
24. The funds intended for granting loans, payment of the interest on State-supported loans and for meeting State obligations under a guarantee or other obligations shall be used in accordance with the procedure prescribed by the Government of the Republic of Lithuania.
25. Funds shall be used to award grants to students pursuing third-level studies in accordance with the procedure prescribed by the Board of the Foundation.
26. Funds shall be used to award social grants to students pursuing first or second-level studies or continuous studies in accordance with the procedure laid down by the Government of the Republic of Lithuania.
27. Funds shall be used to compensate the cost of studies (part of the cost that shall not exceed the normative price of studies), as indicated in paragraph 7.5 of these Regulations, in accordance with the procedure prescribed by the Government of the Republic of Lithuania.
28. Funds recovered when performing the function referred to in paragraph 7.4 of these Regulations shall be returned to the State Budget following the procedure laid down by the Government of the Republic of Lithuania.
28¹. Funds allocated for granting the State support for the studies of children and grandchildren of expatriates and foreigners of Lithuanian descent at Lithuanian schools of higher education shall be used by the procedures defined by the Ministry of Education and Sciences.
29. The Foundation shall have a separate account for the funds accumulated from repaid loans, interest and delinquency charges as well as non-budgetary funds allocated for the granting of loans, payment of the interest on State-supported loans and fulfilment of State obligations under a guarantee as well as other obligations.  After the end of the year, the balance on this account shall not be returned to the State Budget.
30. The National Audit Office performs State audit of the Foundation. Internal audit shall be carried out in line with the procedure laid down in the Law of the republic of Lithuania on the Internal Control and Internal Audit (Valstybės žinios (Official Gazette), 2002, No. 123-5540) and other legislation on internal audit.
31. The Foundation shall organise the accounting, compile and provide budget execution reports in line with the procedures laid down in the Law of the Republic of Lithuania on Accounting (Valstybės žinios (Official Gazette), 2001, No. 99-3515) and the Law of the Republic of Lithuania on Public Sector Accountability (Valstybės žinios (Official Gazette), 2007, No. 77-3046) and other procedures established by law.

VI. Recruitment and Remuneration of Public Servants and Employees

32. The personnel of the Foundation shall consist of the public servants and employed staff of the Foundation.
33. The status of the public servants of the Foundation, terms of remuneration and social guarantees shall be established by the Law of the Republic of Lithuania on Public Service. The status, terms of remuneration and social guarantees of employed staff shall be established by the Labour Code of the Republic of Lithuania (Valstybės žinios (Official Gazette) No 64-2569, 2002) and other legal acts. 

VII. Final Provisions

34. The Regulations of the Foundation shall be amended by a decision of the Government of the Republic of Lithuania. 
35. The Foundation shall be liquidated or reorganised by a decision of the founder in line with the procedure laid down by the legislation.
36. After liquidation or reorganisation of the Foundation, the procedure for using the remaining funds shall be established by the founder of the Foundation.
37. Public notices of the Foundation shall be published in its website. In the occasions defined in the legislation, public notices shall be published in the supplement of the Official Gazette "Information Bulletin" and other media.