Act of School Fundraising to Support the Education of Financially Disadvantaged Students Article 5

Prior to engaging in fundraising as described in the Paragraph 1 of the preceding article, schools shall fill out an application form and attach an executive rule of the education savings account to apply for permission from competent authorities.Schools may apply for permission described in the previous paragraph jointly. In such case, one of the schools shall be elected as the applicant school.Private schools with poor management or having major deficit must demonstrate improvement within time limits set by competent authorities. School which fails to do so, a permission shall not be approved.The executive rules of Paragraph 1 shall include fund savings and management, subsidization standards, payout processes, methods and purpose of the education savings account, and the objectives, strategies, public proclamation and credit references, expected benefits, and other items related to the fundraising.The executive rules of Paragraph 1 shall be approved by the school’s council board. Private schools must apply for approval from the board of trustees of the school’s judicial person. For revisions and amendments, approval must be obtained from the school competent authorities.The regulations governing the procedures, deadlines, required documents or information, review items, permit conditions, cease and desist, and other procedural accorded matters related to the approval provided in the Paragraph 1 shall be prescribed by the Ministry of Education.