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Khalifa sets up Emirates Foundation

ABU DHABI — The President, His Highness Shaikh Khalifa bin Zayed Al Nahyan, has issued Law No. 8 of 2005, setting up the Emirates Foundation, which shall have its headquarters in Abu Dhabi.

Branches of the Foundation may be set up inside and outside the emirate of Abu Dhabi, according to Article 2 of the Law.

The Foundation, which shall be an independent corporate body, with financial and administrative independence and owned by the government of Abu Dhabi, aims at uplifting the level of competence in the country in the areas of science, education, technology, art, sports, environment and health, as well as in the technical and social areas.

The Foundation shall also enjoy a full legal status that allows it to deal in all legal matters and activities, and to engage in litigation. It also have the right to assign any party to represent it in any court matters, Article 1 of the Law said.

According to Article 3, the Foundation shall work to increase awareness in the private sector on the importance of participating in the general social work. It shall also work to achieve partnership between the public and the private sectors, as well as boost the social services values. In addition, it shall provide the necessary means to activate its initiatives and support centres for excellence by setting up and managing special funds. It shall also work to strengthen relations between the state and civil society organisations by providing for them support and encouragement, in addition, it shall work out means of interaction between all entities operating in the country within the Foundation’s areas of activities and their counterparts worldwide.

Article 4 of the law said the Foundation shall have a board of trustees whose members shall be appointed by virtue of a decree issued by the Foundation’s executive board chairman. The board of trustees shall be in charge of issuing the Foundation’s byelaws.

It shall also provide to the board the necessary guidance and directives on the Foundation’s general policy.

The Foundation shall be administered by a board made up of a chairman, and a number of board members not less than seven, including the chairman himself. The members shall be appointed by virtue of an executive board decree. The byelaws shall decide how the board shall operate and how it shall vote on its decisions, according to Article 5. In the case of the Foundation’s source of revenue, Article 6 of the Law stated that it shall include donations by international or local institutions, natural persons with high income inside or outside the country, the returns of the Foundation’s property investments either by means of the investment funds or any other investments, in addition to other sources of revenue the board may approve.