Foundations Act Article 49

A government-endowed foundation shall have 2 to 5 supervisors who shall select one among themselves to act as the managing supervisor. The number of supervisors may be more than 5 upon approval by the competent authority.At least one of the supervisors under the preceding paragraph shall be selected by the competent authority.A supervisor of a government-endowed foundation shall serve a term of up to 4 years and may by be re-appointed upon expiry of the term.The number of times that a supervisor may be re-appointed under the preceding paragraph shall follow the regulation stipulated by the competent authority, if any.The managing supervisor shall attend the Board meeting in a non-voting capacity. The competent authority may remove the managing supervisor from office and take such other necessary measure if the managing supervisor’ failure to attend the Board meeting is likely to endanger the benefit of the public or the government-endowed foundation.The third to fifth paragraphs and the ninth paragraph of the preceding Article shall apply mutatis mutandis to the supervisor of a government-endowed foundation.