Based on the Foundations Act that went into effect on 1 February 2019, the EPA progressively completed formulation of further bylaws relevant to such organizations. Among these is the Regulations for Establishment and Supervision of Environmental Protection Foundations that was announced on 25 January 2019 to allow for the regulation of foundations. The Regulations allow foundations and individuals covered by them to gain a full understanding of and abide by the standards and processes for establishing a foundation. The key points of the Regulations are as follows:
1. The basis of the stipulations are derived from the Foundations Act.
2. The definition of environmental foundations and the amount of assets when applying to establish one.
3. Regulations for foundations’ investments and limitations on providing grants.
4. Regulations on processes for internal controls and audit systems for foundations that fit certain qualifications.
5. Electronic filing and processing.
6. Selection of board directors and the calculation of ratios for foundations receiving funding from public juristic persons.
Excerpt from Environmental Policy Monthly, 22(2)
- Environmental Protection Administration, R.O.C.(Taiwan)